Coronavirus, latest news. China: GDP grows by 4.9% in the third quarter. 40 million cases worldwide

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The Chinese GDP in January-September returns positive and marks an increase of 0.7%: after the historic drop to -6.8% in January-March, the economy has regained its expansionary phase, rising by 3.2% in April -June and 4.9% in July-September. The latter figure, although less than the 5.2% estimated by analysts, underlines a step of the consolidated post-pandemic recovery: China is the only country indicated by the IMF to grow in 2020, at + 1.9% according to estimates released in October. Central Bank Governor Yi Gang expects growth of 2% in 2020 and already positive in the first 9 months.

Retail sales in China rose by 3.3% in September, against + 0.5% in August and analysts’ expectations of + 1.8%. The data, released by the National Statistics Office, is the second positive in a row on a monthly basis in 2020 and the largest since December, confirming a recovery trend after the lockdown at the beginning of the year due to the Covid-19 pandemic.

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