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Economy

China power crunch hits GDP growth

Expansion dips to 4.9% in Q3 as commodity price rises and Evergrande crisis take toll

A logistics center near the port in Tianjin, China: The country's GDP growth slowed to 4.9% in the third quarter.   © Reuters

SHANGHAI -- China's economic growth continued to decelerate in the third quarter, as gross domestic product came in at 4.9%, dragged down by the country's zero-tolerance COVID measures and energy shortages.

The year-on-year GDP growth rate, published on Monday by the National Bureau of Statistics for the three-month period through September, was below the 5% average expansion forecast by 29 economists in a Nikkei poll released earlier this month.

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