China real GDP increased by 4.9 % y/y in Q3 2021

Real GDP growth in China decelerated to 4.9% y/y in Q3 2021 from 7.9% y/y in Q2 2021. This is the lowest y/y GDP growth rate since Q3 2020, revealing the growing pressure on the world’s second-largest economy.

Surging raw material costs, ongoing energy crisis, regional COVID-19 outbreaks as well as lagging domestic consumption all have weighed on the recovery of the economy in the third quarter. In Q1 and Q2 2021, China’s real GDP expanded by 18.3% y/y and 7.9% y/y respectively.
Read the newly published China Economy in a Snapshot_Q4 2021 here.

Further data and analysis on China's economy are available on the CEIC China Economy in a Snapshot – Q3 2021 report.