China third quarter growth meets expectations at 6.8%

China's economy grew 6.8 per cent between July and September, according to official data released on Thursday, slowing slightly from the prior quarter.

The growth rate, which compares expansion with the same three months in the previous year, met forecasts, the BBC reported.

The result followed growth of 6.9 per cent in the first and second quarters of the year.

The latest GDP figures are still above Beijing's annual growth target of 6.5 per cent for 2017.

The world's second largest economy is trying to rein in debt and contain a housing bubble without hurting growth.

Those efforts are expected to have weighed on economic activity in some parts of China, but growth has been supported by higher-than-expected rise in trade and bank lending.

According to the data, retail sales rose 10.3 per cent in September from a year earlier, edging down slightly from analysts' expectations for a 10.2 per cent rise, reports the BBC.

China's factory output grew 6.6 per cent in September from a year earlier, beating expectations, while fixed investment disappointed with a 7.5 per cent expansion in the first nine months of the year.

--IANS

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