China’s Growth takes Pressure of Leaders

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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