China’s Economy Q3 2023

According to the latest data released by the National Bureau of Statistics, China's economy confirmed GDP growth of 5.2 per cent the first three quarters of 2023 to USD 12.5 billion. In Q3 the country's GDP grew by 4.9 per cent, while in the second quarter it grew by 6.2 per cent.

China's retail sales of consumer goods, a key measurement of consumer spending, increased by 6.8 per cent in the Q1-Q3 period, while in September alone it rose by 5.5 per cent, up from the 4.6 per cent recorded in the previous month.

Industrial production in China, comprising of activity within the manufacturing, mining and utilities sectors, grew by 4.5 per cent in September and 3.8 per cent in the first half of 2023, while increasing by 4 per cent in the first three quarters of 2023.

China's urban unemployment rate remained stable at 5 per cent in September, compared with that recorded in August.