Chinese fourth-quarter economic growth will accelerate, says bureau spokesman
China’s fourth-quarter economic growth will rise from the third quarter, according to the spokesman of the National Statistics Bureau, Fu Linghui.
In a press conference on Monday, Fu said that consumption prospects are improving and the services industry is showing signs of good recovery momentum.
Data on Monday also showed that Chinese industrial production rose at a faster pace than expected in October. However, recovery in retail sales was slower than anticipated.
The world’s second biggest economy is reporting speedy recovery as it successfully controlled the coronavirus outbreak. China’s daily COVID-19 cases have lowered to less than twenty, with only 8 new cases reported in the previous day.