GUANGZHOU: South China's economic powerhouse Guangdong Province said its GDP rose 6.4 percent year on year to 7.72 trillion yuan (1.09 trillion U.S. dollars) in the first three quarters of 2019.
Guangdong's economy has maintained overall stability, with the growth of main economic indicators kept within an appropriate range, said Wang Liying, an official with the provincial bureau of statistics.A breakdown of the data showed output of the service sector rose 7.9 percent, outpacing a 3.8-percent increase in the primary industry and a 4.6-percent rise in the secondary industry, reports Xinhua.
The job market in the province also saw a stable trend. The registered unemployment rate in urban areas stood at 2.16 percent at the end of September, well below the government's annual control target of 3.5 percent.
The province's fixed-asset investment grew by 11.3 percent year on year in the first three quarters, while its retail sales of consumer goods rose by 7.8 percent. As one of China's economic powerhouses, Guangdong recorded a 6.8 percent GDP growth last year. The province has set a target range of 6-6.5 percent for economic growth this year.