China's GDP Grows 4.6% in Q3, Slightly Above 4.5% Forecast

Oct 18, 2024, 02:05 AM

China's GDP grew by 4.6% year-on-year in the third quarter of 2024, slightly above the forecast of 4.5% but down from 4.7% in the previous quarter. The National Bureau of Statistics reported that the country's GDP for the first three quarters of 2024 reached 94.97 trillion yuan, reflecting a year-on-year growth of 4.8%. This figure is below the previous estimate of 5.0%. Additionally, new home prices in China fell by 0.71% in September compared to the previous month. The quarterly GDP growth rate was 0.9%, an increase from the previous quarter's 0.7%, but below the estimated 1.1%. The data highlights the need for more economic stimulus to sustain growth.