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Chinese economy accelerates

Date: 20 October 2020 Tags: World Economy
  • China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships.
  • The world’s second-largest economy expanded by 4.9% over a year ago in the three months ending in September, official data showed.
  • China, where the pandemic began in December, became the first major economy to return to growth after the ruling government declared the disease under control in March and began reopening factories, shops, and offices.
  • It is the only major economy that is expected to grow this year while activity in the United States, Europe, and Japan shrinks.