11:58 - 19.10.2023

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October 19, Fineko/abc.az. China's economy exceeded expectations in the third quarter, that is, it grew by 4.9% year-on-year, ABC.AZ reports with reference to the National Bureau of
Statistics of China. The statistics on both industrial production and retail sales is improved in the data, while the decline remains only in the volume of capital investments.

The country's central bank, on the other hand, says it is ready to further soften its monetary policy.

Although industrial production in September grew by 4.5% against September 2022, the purchasing managers' index (PMI, the leading indicator of business activity) exceeded 50 points. Retail sales also grew more than analysts expected – by 5.5%. The profits of industrial enterprises and the index of activity in the service sector are also growing.
The improvement in indicators is accompanied by an increasing decline in the real estate market – investments in it have decreased sharply in nine months, by 9.1% compared with the same period of 2022. Over the three quarters, total private investments fell by 0.6% against compared to the 2022 same term — an increase of 9.1%, excluding real estate investments. Unemployment continues to decline (a decrease of 0.2 percentage points —to 5%).