China's third-quarter gross domestic product grew 9.4 per cent from a year earlier, slightly faster than expected, the statistics office said this morning.
It was the ninth successive quarter of annual growth of 9 per cent or higher and followed rises of 9.5 per cent in the second quarter and 9.4 per cent in the first. Economists had expected growth of 9.3 per cent.
Beijing is striving to maintain fast growth while rebalancing the mix by promoting domestic demand, especially consumption, to reduce China's reliance on investment and exports and stifle US criticism of its swelling trade surplus.
Today's data showed resurgent growth in investment in fixed-assets such as bridges, factories and power plants. Growth in such investment in urban areas in September was up 29.4 per cent on a year before, well ahead of market forecasts for a rise in 27 per cent.
September's industrial output was also higher than expected at 16.5 per cent, but further falls in consumer and producer inflation pointed to possible oversupply.
The consumer price index was up 0.9 per cent on a year before, rising slower than forecasts of 1.2 per cent, while the producer price index was up 4.5 per cent, also down on expectations of a 5.1 per cent rise.