China’s economic progress for the third quarter is moving faster. According to CNBC , the country’s GDP has increased 4.9% between July and September 2020.
It’s not as strong as analyst expect but Chinese consumer confidence is returning after the pandemic shock caused by COVID-19.
Economic recovery success
It may be the only one of the economic recovery for this year. Policy makers around the world may help to stabilize a devastated global economy and can start a demand in the early dawn of 2021.
China’s National Statistic Bureau has reasons to believe that a stable economic recovery is under way. It has seen a stable growth in September when it saw demand in all sectors increase for the first time this year.
Retail sales have increase domestically, while the industrial sector output grew 6%.
More help to continue growth
The government has rolled out an array of measures to help stimulate the economy. It includes more fiscal spending, tax breaks and lower lending rates.
China is on track to report growth in 2020.
