China’s GDP Q3 2022
China's economy rebounded faster than expected in the third quarter of 2022, but a persistent property slump and global recession risks are set to challenge China's efforts for a strong revival planned for 2023.
In the July-September quarter, China's GDP grew by 3.9%, boosted by the government measures to revive the economy, up from 0.4% in the second quarter, while in the first three quarters, China's GDP grew by 3% year on year to RMB 87.03 trillion, up from 2.5% rise in the first half of 2022.
Industrial production showed signs of quicker recovery, with the value-added industrial output rising 4.8% year on year in the third quarter, 4.1 percentage points higher than the previous quarter.
China's retail sales of consumer goods, a major indicator of the country's consumption strength, went up 3.5% from a yearly decline of 4.6% in the second quarter.
The urban unemployment rate declined 0.4 percentage points to 5.4% over the same period.
The country's fixed asset investment, a gauge of expenditure on items including infrastructure, property, machinery, and equipment, rose 5.9% from a year ago, including an 8.6% growth in infrastructure investment and 10.1% growth in manufacturing investment. Moreover, investments in the embattled real estate sector dropped by 8%.