China's GDP Growth Slows to 9.1% in Q3


China's gross domestic product expanded at the slowest pace in nearly two years in the third quarter. GDP growth moderated to 9.1 percent in the third quarter from 9.5 percent in the second quarter. On a seasonally adjusted quarter-on-quarter basis, GDP rose 2.3 percent following a revised 2.4 percent gain the second quarter.

In the first three quarters of this year, the total value added of the industrial enterprises above designated size was up by 14.2 percent year-on-year at comparable prices, 0.1 percentage point lower than that in the first half of this year. An analysis by types of ownership showed that the value added growth of the state-owned and state holding enterprises went up by 10.4 percent; collective enterprises by 9.6 percent; share-holding enterprises by 16.1 percent; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan province by 10.9 percent. The year-on-year growth of the heavy industry was 14.6 percent, and 13.1 percent for the light industry.  In September, the total value added of the industrial enterprises above designated size was up by 13.8 percent year-on-year, or up by 1.2 percent month-on-month.

In the first three quarters of this year, the investment in fixed assetsrecorded a year-on-year growth of 24.9 percent (a real growth of 16.9 percent after deducting price factors), 0.7 percent lower than that in the first half of this year.

In the first three quarters of 2011, the investment in real estate development recorded a year-on-year growth of 32.0 percent, or 0.9 percentage point lower than that in the first half of this year. Specifically, the investment in residential buildings reached 3,178.8 billion yuan, up by 35.2 percent.

In the first three quarters of this year, the total retail sales of consumer goods reached 13,081.1 billion yuan, a nominal year-on-year rise of 17.0 percent (a real growth of 11.3 percent after deducting price factors), or 0.2 percentage point higher than that of the first half of this year.
 
In the first three quarters of this year, the per capita total income of urban households was 17,886 yuan. Specifically, the per capita disposable income of urban population was 16,301 yuan, the nominal year-on-year growth was 13.7 percent, or a real growth of 7.8 percent year-on-year after deducting price factors.

Agricultural Production Went on Steadily. The total output of summer grain was 126.27 million tons, an increase of 3.12 million tons, up by 2.5 percent year-on-year. The total output of early rice was 32.76 million tons, an increase of 1.43 million tons, up by 4.5 percent year-on-year. In the first three quarters of this year, the total output of pork, beef, mutton and poultry reached 54.53 million tons, a year-on-year growth of 0.2 percent. The output of pork was 35.68 million tons, down by 0.6 percent.


TradingEconomics.com, National Bureau of Statistics China
10/18/2011 10:46:48 AM