National Bureau of Statistics: Domestic Demand Gradually Improves in First Three Quarters

Mao Shengyong, spokesperson and deputy director-general of the National Bureau of Statistics, stated at a press conference hosted by the State Council Information Office on the 19th that domestic demand has gradually improved in the first three quarters. Regarding domestic consumption, consumption's contribution to economic growth in the first three quarters approached 50%, reaching 46.7%, pulling economic growth by 2.1 percentage points. Imports are an important component of domestic demand; import growth rates remained above 20% each quarter in the first three quarters, reflecting both volume increases and price rises. Regarding prices, the year-on-year increase in the resident consumer price index was 0.9% in the first three quarters. The core CPI, excluding food and energy, rose 1.1% year-on-year, indicating moderate price increases as market supply-demand relations improve. (Xinhua Finance)