Shipping containers sit in stacks at the Zhangjiagang Port on October 21, 2022.Shipping containers sit in stacks at the Zhangjiagang Port on October 21, 2022.

China's GDP grew by 3.9% in the third quarter, beating expectations.

The data was supposed to be released on October 18. The 20th National Congress of the Communist Party of China took place over the course of a few days.

China's GDP growth was expected to be 3.4% in the third quarter, according to analysts.

The 3.9% year-on-year growth for the third quarter was a pickup from the 0.4% growth in the second quarter.

It is still well below the official target.

Investment banks have slashed their full-year forecasts due to Covid controls on business activity in the second quarter.

Retail sales grew 2.5% in September from a year ago, but missed expectations and slowed from August.

In September, the unemployment rate in the city went up. People ages 16 to 24 made up 17.9% of the total.

The increase in industrial production was above expectations.

For the first three quarters of the year, fixed asset investment rose by 5.9%, which was a tad below the forecast of 6.

The decline in real estate investment was greater than the decline recorded over the first eight months of the year

As of September, year-to-date investment in infrastructure was 8.6% higher than it was at the same time last year. In manufacturing, the pace was the same.

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