China’s third-quarter GDP grows 7.8%: govt

China’s gross domestic product (GDP) expanded 7.8 percent year-on-year in July-September, the government said Friday, snapping two quarters of slowing growth in the world’s second-largest economy.

The GDP figure matched the median forecast of in a survey of 11 economists by AFP. Growth for the first nine months of the year came in at 7.7 percent, the National Bureau of Statistics said.

“The overall national economy realised steady growth and enjoyed good momentum,” the NBS said in a statement accompanying the figures.

“The major indicators stayed within the rational range, which was in favour of promoting economic restructuring and pushing forward reforms.”

China’s industrial production, which measures output at factories, workshops and mines, rose 10.2 percent in September year-on-year, the NBS said.

Retail sales, a key indicator for consumer spending, rose 13.3 percent in September year-on-year, it added.

And fixed asset investment, a measure of government spending on infrastructure, rose 20.2 percent during the first nine months of the year.