Chinese GDP Growth Quickens to 7.8% YoY in Q3


In the third quarter of 2013, China's gross domestic product expanded 7.8 percent year-on-year, its fastest pace since Q4 of 2012. This pick up was mainly driven by rising investment.

In the first three quarters, industrial production grew steadily and moderately with constant increase in enterprises profits. Total value added (calculated at comparable price) of large sized industrial enterprises was up by 9.6 percent year-on-year, an increase of 0.3 percentage point compared with that in the first half of this year.

Investment in fixed assets (excluding rural households) was 30,920.8 billion yuan, a year-on-year growth of 20.2 percent (a real growth of 20.2 percent after deducting price factors), which was 0.1 percentage point higher than that in the first half of the year.

Total retail sales of consumer goods reached 16,881.7 billion yuan, an increase of 12.9 percent (a real growth of 11.3 percent after deducting price factors), or 0.2 percentage point higher than that in the first half of the year.

Total value of imports and exports in the first three quarters was 3,060.4 billion US dollars, a year-on-year growth of 7.7 percent, which was 0.9 percentage point lower than that in the first half. The total value of exports was 1,614.9 billion US dollars, up by 8.0 percent, or a drop of 2.4 percentage points; and that of imports was 1,445.5 billion US dollars, up by 7.3 percent, or 0.6 percentage point higher.

The per capita disposable income of urban households was up 6.8 percent after deducting price factors. Of the per capita total income of urban households, the year-on-year growth of wage income was 8.9 percent; net income from business operation 9.9 percent; property income 13.0 percent and 9.8 percent from transferred income.

Chinese GDP Growth Quickens to 7.8% YoY in Q3


NBS | Nuno Fontes | nuno@tradingeconomics.com
10/18/2013 8:56:43 AM