China’s economy powered ahead in the third quarter, taking some pressure off the country’s leaders as they seek to execute painful structural reforms.
Gross domestic product grew 7.8% over the previous year during the third quarter, the National Bureau of Statistics reported Friday. The performance matched the 7.8% median estimate of economists surveyed by CNNMoney. Second quarter 2013 growth was 7.5%.
Initial market reaction in Asia was muted, with most indexes in positive territory following the release.
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