(File Photo: VCG)
BEIJING, Oct. 18 (Xinhua) — China’s GDP expanded 6.2 percent year on year in the first three quarters of 2019 to about 69.78 trillion yuan (about 9.87 trillion U.S. dollars), data from the National Bureau of Statistics (NBS) showed Friday.
The growth was in line with the government’s annual target of 6-6.5 percent set for 2019.
In the third quarter, the country’s GDP rose 6 percent year on year, according to the NBS data.
(Graphic: People’s Daily app)
The Chinese economy has maintained overall stability, the statistical authority said at a press conference, while acknowledging that China faces downward pressure amid slower global economic growth and more external uncertainties.
A breakdown of the data showed output of the service sector, which accounted for 54 percent of the total GDP, rose 7 percent in the first three quarters of the year, outpacing a 2.9-percent increase in the primary industry and a 5.6-percent rise in the secondary industry. Consumption continued to be the mainstay in driving up demand, with the final consumption contributing 60.5 percent to the economic growth in the Jan.-Sept. period, NBS data showed.
China’s industrial output up 5.6 pct in first three quarters
China’s value-added industrial output, an important economic indicator, expanded 5.6 percent year on year in the first three quarters.
China’s retail sales up 8.2 pct in first three quarters
China’s retail sales of consumer goods rose 8.2 percent year on year in the first three quarters of 2019.
China’s property investment up 10.5 pct in Jan.-Sept.
China’s investment in property development grew 10.5 percent year on year in the first nine months of 2019, unchanged from the reading of the first eight months.
China’s industrial capacity utilization rate at 76.4 pct in Q3
China’s industrial capacity utilization rate stood at 76.4 percent in the third quarter of 2019, unchanged from the second quarter.
China’s fixed-asset investment growth up 5.4 pct
China’s fixed-asset investment grew 5.4 percent year on year in the first three quarters of 2019.
China reports steady employment in Jan.-Sept.
China’s job market remained generally stable in the first nine months of the year, the National Bureau of Statistics said Friday.
A total of 10.97 million new urban jobs were created during the period, meeting 99.7 percent of this year’s target.
China’s rural resident income continues to grow fast
The per capita disposable income for China’s rural residents continued to grow at a faster pace than that of the country’s city dwellers in the first three quarters of 2019.
(With input from Xinhua)
