China GDP Growth Slows, but Meets Expectations
Oct 18th 2012 10:57AM
Updated Oct 18th 2012 11:02AM
China's GDP growth slowed in the third quarter to 7.4% year-over year, reported the country's National Bureau of Statistics. This is down from 7.6% for the second quarter and 8.1% for the first quarter, the bureau reported.
This is the lowest rate since 2009. although it broadly met expectations.
Other metrics showed some growth. Total retail sales of consumer goods were a bright spot, rising 14.2% year-over-year in September. Consumer prices inched up 1.9% on an annual basis in September. This compares favorably to the higher figures of recent months and quarters.
The bureau also reported that in the first three quarters of the year, the per-capita disposable income of urban households clocked year-on-year growth of 13%, falling to 9.8% growth after deducting price factors.
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