China third quarter GDP grows 6.7 percent, in line with expectations

China third quarter GDP grows 6.7 percent, in line with expectations

BEIJING: China’s economy grew 6.7 percent in the third quarter from a year earlier, steady from the previous quarter and in line with market expectations, as increased government spending and a property boom offset stubbornly weak exports.Analysts polled by Reuters had predicted gross domestic product would grow 6.7 percent in the July-September period, unchanged from the second quarter and the first quarter.While fears of a hard landing have eased this year, recent data also have highlighted growing imbalances in the world’s second-largest economy, with growth increasingly dependent on government spending and ballooning debt as private investment tumbles to record lows.The high-flying property market is also beginning to show signs of overheating.Gross domestic product rose 1.8 percent quarter-on-quarter, the National Bureau of Statistics said on Wednesday, in line with market forecasts and compared with revised 1.9…

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