China economy grows slower in Q3 at 9.1%

18 October 2011 04:24  [Source: ICIS news]

GUANGZHOU (ICIS)--China’s GDP grew by 9.1% year on year in the third quarter of 2011, showing continued deceleration in the growth pace of the world’s second biggest economy, official data showed.

The country recorded a GDP growth of 9.5% in the second quarter and a 9.7% pace of expansion in the first quarter.

In the first nine months of 2011, China’s GDP grew by 9.4% year on year to yuan (CNY) 32,069bn ($5,026bn), according to the National Bureau of Statistic (NBS).

Its industrial output expanded by 14.2% year on year in January to September 2011, with fixed asset investments recording a 24.9% growth, according to the data. Total retail sales for the period grew by 17.0% year on year, NBS said.

The third-quarter economic data were within the Chinese government’s expectations, indicating that the financial and monetary measures that have been implemented are taking effect, said Sheng Laiyun, spokesman of NBS.

China’s economy remains “in good shape”, he said.

($1 = CNY6.37)

By: Fanny Zhang
+65 6780 4359

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