China third-quarter GDP grows 6.0% year-on-year, misses expectations
China’s economic growth slowed more than expected to 6.0% year-on-year in the third quarter, the weakest pace in at least 27-1/2 years, as demand at home and abroad faltered amid a bruising Sino-U.S. trade war, reports Trend citing to Reuters.
Friday’s data marked a further loss of momentum for the economy from the second quarter’s 6.2% growth, likely raising expectations that Beijing needs to roll out more measures to ward off a sharper slowdown.
Analysts polled by Reuters had forecast gross domestic product (GDP) to grow 6.1% in the July-September quarter from a year earlier.
The government is targeting growth of 6-6.5% this year.
China’s trading partners and investors are closely watching the health of the world’s second-largest economy as the trade war with the United States fuels fears about a global recession.