China's economic recovery plows on as World's only major growth engine

China’s recovery from the coronavirus pandemic continued in the third quarter and showed signs of broadening in September as consumer spending accelerated, keeping the economy on track to be the world’s only major one to grow this year.

Gross domestic product expanded 4.9 per cent in the third quarter from a year ago, missing economists’ forecast for a 5.5 per cent expansion. Both retail sales and industrial production gained momentum in September, reassuring markets that the recovery is on track.

The numbers show China’s early and aggressive containment of the coronavirus has set the economy up for a faster rebound