Q3 GDP figure points to steady recovery | 三季度国内生产总值工业产值增长3.9% 经济恢复向好势头继续巩固

g support for the growth rebound in the third quarter.

Retail sales grew 3.5 percent in the third quarter, the bureau said, up from the 4.6 percent decline in the second quarter.

"We expect the recovery will continue over the rest of this year and into 2023, underpinned by macro policy support and infrastructure spending," Chan said.

However, he said the COVID-19 pandemic may continue to hinder the recovery in domestic activities. "Although industrial output gathered pace in September, this trend will be very difficult to sustain given the increasingly challenging external environment, which is adding to domestic growth challenges."

Zheng Houcheng, director of the Yingda Securities Research Institute, said China's economy will continue to improve in the fourth quarter due to a low base effect and forceful infrastructure spending.

Meanwhile, he warned of economic risks and challenges ahead, with renewed COVID-19 disruptions, a property downturn continuing to weigh on growth and weaker external demand curbing exports.

Zhou, from China Everbright Bank, said he expected to see a notable economic rebound in the fourth quarter given better control of COVID-19, normalization of activities and stimulus policy measures gradually taking effect.

Source: China Daily

Editor: Gao Xin

Senior Editor: Liu Dan

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