The Chinese economy’s disappointing growth of 4.9% in the third quarter of 2021 is the latest news

China’s GDP grew by 4.9% in Q3 2021, disappointing as industrial growth increased less than expected in September.

According to the National Bureau of Statistics, GDP grew by 4.9% in the third quarter and fell short of expectations of 5.2% growth, according to a Reuters poll.

Industrial production and retail

Industrial output rose 3.1% in September, lower than the 4.5% forecast by Reuters.

However, retail sales surpassed expectations, rising 4.4% in September from a year earlier, amid disappointment, amid expectations of a 3.3% rise.

Data from the National Office showed that investment in fixed assets in the first three quarters of the year was weaker than expected, up 7.3% from last year and 7.9%.

Unemployment rate

The urban unemployment rate in China was 4.9% in September. However, the unemployment rate for 16-24 year olds was very high at 14.6%.

Evergreen crisis

It is noteworthy that the crisis of Chinese real estate company Evergrande this quarter has eroded the sentiment of the economy because it has affected the performance of many lenders and real estate companies, but a few days ago China Play Bank stated that Evergrande is a special case and most real estate developers are Chinese and global business and financial Enjoy stability in an effort to reassure the community.

See also  "Meta" introduces an artificial intelligence model that translates conversations between dozens of languages...
  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

    Related Posts

    • Economy
    • November 2, 2024
    • 73 views
    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    The wealth management landscape is undergoing a dramatic transformation, fueled by the rise of financial technology (fintech), according to fintech entrepreneur Emils Kerimovs. No longer exclusive to the ultra-wealthy, innovative…

    UAE Powering Gaming Boom in the Middle East

    The gaming industry in the Middle East is experiencing a growth spurt, with Saudi Arabia and the United Arab Emirates (UAE) among the countries attracting major investments. However, this digital…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Best Kitchen Renovation Ideas to Upgrade Your Space