China’s GDP growth hits one-year low in Q3

Slowing down: Workers are seen assembling vehicles at a factory in Qingzhou. China’s recovery is losing steam, weighed by faltering factory activity, among others. ― AFP

BEIJING: China’s economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks and raising heat on policymakers amid rising jitters over the property sector.

Data released yesterday showed gross domestic product (GDP) grew 4.9% in July-September from a earlier, the weakest pace since the third quarter of 2020 and slowing from 7.9% in the second quarter.