China’s economy grew by 6.9 percent on-year in the third quarter of 2015, a shade higher than the consensus forecast of 6.8 percent.
Here are some quick facts on what fueled that growth.
While better than forecasts, growth was still the slowest since the quarter through March 2009, when the economy expanded by 6.2 percent.
In terms of sectors, the agriculture sector grew by 3.8 percent, while the secondary sector grew by 6 percent. The services sector grew by a comparatively more impressive 8.4 percent..
Industrial production, long the driver of China’s frenetic economic activity, was up 6.2 percent from a year earlier.
Manufacturing was the best performing subset, clocking a 7 percent increase, followed by a 3.3 percent increase for mining, and a 1.7 percent growth in electricity, heat, gas, and water subset.
Investments in infrastructure, a key facet of China’s efforts to prop up the economy after the global financial crisis, continued although the pace eased a bit from the first half of the year.
Investments by state holding enterprises showed an increase of 11.4 percent, while private investments were up by 10.4 percent, accounting for 64.8 percent of the total investment.
Wages continued to grow for both rural and urban dwellers, although the pace, as expected, was quicker for residents in villages given the lower absolute levels.
Wages rose by 8.1 percent for rural workers after adjusting for inflation and 6.8 percent for urban residents.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.