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China’s GDP Figures Better than Forecasted

China’s economy grew by 6.9 percent in the third quarter of 2015, slightly better than the consensus forecast of 6.8 percent. The GDP numbers were accompanied by a swath of data that showed China’s services sector grew by an impressive 8.4 percent over the same time frame, as the world’s second-largest economy continues to make the shift from being an exporter of cheap goods to a consumption-driven economy. Retail sales also went up by a better-than-expected 10.9 percent. Overall, the services sector accounted for 51.4 percent of the Chinese economy in the third quarter.

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