China G.D.P. Grew 9.6% Despite Cooling Efforts
China G.D.P. Grew 9.6% Despite Cooling Efforts HONG KONG — The ugg outlet Chinese economy continued to expand at a rapid clip during the third quarter, demonstrating that government measures aimed at reining in growth have not choked off expansion. China’s gross domestic product grew 9.6 percent from the same period a year earlier, the National Bureau of Statistics said on Thursday. That was a slower pace than the 10.3 percent year-on-year expansion recorded for the second quarter, but just above analyst expectations for a 9.5 percent increase. Analysts view the slowdown as a return toward more normal, sustainable growth, rather than the beginning of a worrying slump. Though the United States and much of Europe are still struggling to pick up the pace of their economies, China has for months faced the opposite challenge: tempering expansion, and the price rises that accompany excessively rapid growth. Inflation data also released on Thursday showed consumer prices rose 3.6 percent in September, a slight acceleration from the increase recorded in August. Reduced lending by state-owned banks and other measures have helped soaring property prices stabilize somewhat in recent months. The Chinese authorities stepped up their growth-slowing efforts on Tuesday by staging their first interest rate increase since late 2007. The move caught most observers by surprise, but appeared to UGG Elsey wedge Boots indicate that Beijing was confident that China’s overall growth momentum was intact and able to withstand the more sweeping tool of rate increases.
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