China’s delayed economic data showed a mixed recovery in the third quarter, with unemployment rising and retail sales weakening in September despite a pickup in growth.
Gross domestic product grew 3.9% in the July-to-September period from a year ago, rebounding from almost stagnant growth in the second quarter when Shanghai was still in lockdown. The figure was stronger than the median estimate of 3.3% in a Bloomberg survey of economists.
The data was postponed by nearly a week as the country held its 20th party congress — a key political event during which President Xi Jinping secured a third term as head of the ruling Communist Party and consolidated his power.