China delays release of quarterly GDP figures

China delays release of quarterly GDP figures

China decided on Monday to postpone the release of GDP data for Third quarter of 2022along with other economic indicators that were to be announced this week, the day after the Communist Party opened its twentieth congress.

The Office for National Statistics, which was due to provide a series of indicators on Tuesday, offered no explanation for this unusual last-minute change.

The GDP numbers due to be published on Tuesday are expected to be the weakest since 2020, with the economy weighed down by anti-Covid restrictions and the housing crisis.

This postponement coincides with the convening of the 20th Congress of the Communist Party, at which it is expected Xi Jinping Obtaining a third mandate at the head of the formation and the country.

Many analysts believe that The second world economy It will have serious problems reaching this year’s growth target, around 5.5 percent.

The International Monetary Fund (IMF) recently lowered its growth forecast for China to 3.2% for 2022 and 4.4% for 2023.

In 2021, the Chinese economy grew by 8.1%.

Last week, the customs authorities postponed the publication of trade figures for the month of September without giving reasons.

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