China’s GDP grew 3.9% in the third quarter, higher than expected

File image of Chinese President Xi Jinping.The pace of year-on-year expansion in the world’s second-largest economy has exceeded expectationsThe IMF forecasts that China’s economy will expand by just 3.2% in 2022, which would be the fastest rate slow since the 1980sThe Government had delayed the publication of this indicator on the progress of the economy for several daysThe gross domestic product (GDP) of China registered a growth of 3.9% in the third quarter compared to the same period of the previous year, as well as in relation to the second quarter of the year, according to data published by the National Statistics Office (ONE). In this way, the year-on-year growth rate of the second largest world economy has exceeded expectations, which pointed to a growth of 3.3%, after GDP expansion of 0.4% in the second quarter of 2022 and 4.8% in the first three months of the year.In the first nine months of 2022, China’s GDP reached a value of 87 billion yuan (12.2 billion euros), which represents a year-on-year growth of 3%, compared to the target for the year as a whole of 5.5%. The International Monetary Fund (IMF) forecasts that the China’s economy will expand just 3.2% in 2022, which would be the slowest rate since the 1980s, excluding 2.4% in 2020, when the Covid-19 pandemic weighed on growth. The primary sector China grew in the first nine months of 2022 at an annual rate of 4.2%, while industry expanded by 3.9% and the service sector by 2.3%. The National Bureau of Statistics of China announced last week After the postponement of the publication of the GDP figures of the Asian giant corresponding to the third quarter of the year, coinciding with the celebration of the XX National Congress of the Communist Party of China (PCCh).