4.4 per cent growth year-on-year in final three months of 2023 needed to hit around 5 per cent target. Read more at straitstimes.com.
BEIJING – China’s latest economic results have raised hopes that its fragile recovery is on firmer footing as growth between July and September, led by a rebound across various indicators such as consumer spending, factory output and employment.
China will need to achieve a 4.4 per cent growth year on year in the final three months of 2023 to hit its around 5 per cent target. It had grown 4.5 per cent in the first quarter and 6.3 per cent in the second quarter, compared with the same period in 2022. This was despite the “backdrop of a very challenging domestic and international environment the housing market crash, dipping external demand and ever-escalating China-US tensions”, Dr Dong added.
Unemployment fell to 5 per cent in September, down 0.2 percentage points from August, the latest data showed.
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