China’s economic growth slowed for a seventh quarter while showing signs of a pickup last month, reducing the urgency to add stimulus and offering support for a global expansion buffeted by Europe’s debt turmoil.
Gross domestic product expanded 7.4 percent in the third quarter from a year earlier, the National Bureau of Statistics said in Beijing today. That matches the median estimate in a Bloomberg News survey of 43 economists and compares with a previously reported 7.6 percent expansion in the second quarter. Industrial production, retail sales and fixed-asset investment accelerated in September.
Industrial production increased 9.2 percent in September from a year earlier, rebounding from a three-year low of 8.9 percent expansion in August, today’s statistics bureau report showed. Economists surveyed by Bloomberg News forecast a 9 percent gain, based on the median estimate.