China the only G20 economy forecast to grow this year
A little more on China’s broader economic outlook:
The Chinese economy expanded 4.9% in the third quarter, according to government data on Monday, marking the country’s lead over much of the rest of the world still struggling from the Covid-19 pandemic.
While the growth in GDP, compared to the same period last year, is lower than analyst expectations it underlines the country’s recovery as factories and businesses have returned to work and consumer spending has picked up again.
China’s central bank governor Yi Gang said on Sunday that officials predicted the economy would grow by about 2% for the year.
“The Chinese economy remains resilient with great potential. Continued recovery is anticipated, which will benefit the global recovery,” he said.
China is expected to be the only G20 economy to grow this year, while the global economy is slated to contract by 4.4%.
Analysts say the strength of China’s economic recovery remains uncertain in the face of job losses, uneven growth across the country, household and corporate debt, as well as trade frictions as ties with the US and other trading partners continue to deteriorate.
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China’s growth rises to 4.9% in latest quarter
In England, people with suspected Covid-19 symptoms were on Sunday sent to a nonexistent site in Kent, in what was seen as a further blow to the country’s failing test-and-trace system.
Council officials in Sevenoaks said the address had been listed on the government website for people to arrange appointments on the national booking portal.
However, the mobile testing unit, which was meant to be introduced in response to a local rise in coronavirus rates, was not deployed to start on site today for “an unknown reason”, according to a spokesperson: