China’s gross domestic product rose 9.6% from a year earlier in the third quarter, slowing from 10.3% growth in the second quarter (…).
The moderation in economic growth was in line with economists’ expectations. Given the central bank’s surprise decision to raise benchmark interest rates earlier this week, the data likely indicate the authorities are comfortable with the current slowdown and are more concerned about rising inflation and property prices. (…)
China’s consumer price index rose 3.6% in September, the bureau’s data showed, up from August’s 3.5% and matching economists’ expectations.
The purchasing managers’ index, a widely followed gauge of manufacturing activity, in September hit its highest level since May. Housing sales also recovered in September, and imports of commodities like oil picked up as well.(…)