Money Talks

China's economic growth slows to 4.9% in the third quarter | Money Talks

China's economic growth slowed to a crawl in the third quarter, raising concerns over the global recovery from the pandemic. G-D-P in the July to September period expanded 0-point-2 percent from the previous three months. The year-on-year number was 4-point-9 percent, down from the almost 8 percent growth recorded in the second quarter. The slump was felt the most on China's construction sites. Home sales data showed a 17-percent contraction year-on-year last month, following an almost 20 percent drop in August. Meanwhile, industrial output rose 3 percent, missing estimates. One bright spot was retail sales. Those were up 4-point-4 percent in September, beating expectations. Officials in Beijing say the government still has the tools to prop up the world's second largest economy. For more, we spoke to Jeffrey Halley. He's a senior market analyst for the Asia Pacific region at OANDA and joins us from Jakarta. #AsiaMarkets #ChinaEconomy #EconomicSlowdown #GlobalGDP

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