China GDP Data: On Tuesday, October 18, 2022, China’s GDP data for the third quarter of 2022 was to be announced. But China has postponed the decision to release GDP data for the time being. No reason has been given for not releasing the GDP data.
China’s National Bureau of Statistics was to release the third quarter figures at 10 am on Tuesday. But now it will be delayed. The department itself has given this information. Apart from GDP, data on monthly industrial output, energy production, fixed asset investment, property investment and sales, retail sales and home prices was also to be released. But China has decided not to release these figures for the time being and it will be delayed further.
According to Bloomberg, China’s economic growth rate is estimated to be 3.3 percent in the third quarter of 2022. Which was zero percent between April and June in the second quarter. During this period, there was a lockdown in many big cities of China including Shanghai. China’s General Administration of Customs also did not release the monthly data, which was to be released on October 14. The agency also did not cite the reasons for not releasing the data.
In all the economic data that has been released in recent days, it has been said that the pace of China’s economy is slowing down. According to the International Monetary Fund, China’s economic growth rate is projected to be 3.2 percent in 2022, then it can be 4.4 percent in 2023. Whereas according to the IMF, India’s GDP can be 6.8 percent in 2022-23 and 6.1 percent in 2023-24.
The economies of the whole world are bearing the brunt of China’s repeated lockdown. Supply chain problems have been encountered. iPhone maker Apple wants to take the mass production outside China.
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