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China’s Economy Expands 7.8%
China's economy, whose growth slowed to a 20-year low of 7.5% in the second quarter, expanded by 7.8% in July-September, according to the country's National Bureau of Statistics.
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China's economy, whose growth slowed to a 20-year low of 7.5% in the second quarter, expanded by 7.8% in July-September, according to the country's National Bureau of Statistics.
The NBS says more than half the third-quarter growth came from spending on factories and other fixed assets. Domestic consumption accounted for 3.7 percentage points.
The Associated Press notes that analysts attribute the uptick to government stimulus spending and caution that worldwide demand for Chinese goods remains relatively weak. The NBS acknowledges that China's trade was so weak that it subtracted 0.1 percentage point of growth in the previous quarter.
Beijing has indicated that it wants to maintain a growth rate somewhere above 7.5%. The International Monetary Fund predicts China's economy will expand 7.6% this year, the weakest pace since the early 1990s.
AP points out that some private forecasters expect China's growth in 2015 to drop below 7%.
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