China's GDP grows 6.2 pct in first three quarters

Source: Xinhua| 2019-10-18 11:15:48|Editor: huaxia
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BEIJING, Oct. 18 (Xinhua) -- China's GDP expanded 6.2 percent year on year in the first three quarters of 2019 to about 69.78 trillion yuan (about 9.87 trillion U.S. dollars), data from the National Bureau of Statistics (NBS) showed Friday.

The growth was in line with the government's annual target of 6-6.5 percent set for 2019.

In the third quarter, the country's GDP rose 6 percent year on year, according to the NBS data.

The Chinese economy has maintained overall stability, the statistical authority said at a press conference, while acknowledging that China faces downward pressure amid slower global economic growth and more external uncertainties.

A breakdown of the data showed output of the service sector, which accounted for 54 percent of the total GDP, rose 7 percent in the first three quarters of the year, outpacing a 2.9-percent increase in the primary industry and a 5.6-percent rise in the secondary industry.

Consumption continued to be the mainstay in driving up demand, with the final consumption contributing 60.5 percent to the economic growth in the Jan.-Sept. period, NBS data showed.