Output in the sector fell 5.1% from a year ago, the statistics bureau said Tuesday in a supplemental report on gross domestic product. For the first nine months of the year, the sector’s output was down 19.1% compared to the same period in 2019. Gross domestic product data released Monday showed consumption in China continued to improve in September as virus-related restrictions eased further and consumer confidence picked up. China’s Third Quarter Gross Domestic Product: Details (Table)Leasing and commercial services was the worst performer last quarter, declining 6.9% from a year ago. Growth in the construction sector remained solid, rising 8.1% in the quarter from a year ago, reflecting strong credit support from the government to boost infrastructure and a buoyant property market.

Source: Hindustan Times October 20, 2020 03:56 UTC