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Chinese GDP in first three quarters of 2010 increases 11%

22-Oct-2010 8:24 AM

National Bureau of Statistics of China stated (21-Oct-2010) GDP in the first three quarters of 2010 reached CNY6,866 billion (USD1,032 billion), a year-on-year increase of 10.6%, or 2.5 ppts higher than the same period last year. In terms of growth by quarter, GDP rose 11.9% in 1Q2010, 10.3% in 2Q2010 and 9.6% in 3Q2010. The Bureau added that the "good developing momentum of economy was further consolidated" in the period and the national economy "kept moving towards the expected direction of macro economic control". In 3Q2010, inflation accelerated to the fastest pace in almost two years while consumer prices increased 3.6% in Sep-2010. [more]