Economics
China's Growth Dragged Down by Construction, Bolstered by Tech
- Building slowed more than first reported in Friday’s GDP data
- Supplementary data provides greater detail on economic growth
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Construction and manufacturing were the main drags for China’s slower-than-expected third-quarter economic growth while technology offered some support, supplementary data released Saturday show.
Growth in the construction sector slowed to 2.5 percent from a year earlier compared with 4 percent in the previous quarter, the statistics bureau said. The financial sector also grew at a slower pace of 4 percent while information technology continued to expand at a fast clip of 32.8 percent, compared with 31.7 percent in the second quarter.