China’s July-September GDP growth came in at 4.6%, down slightly from the prior quarter.
rate came in at 4.6% compared to the same period last year, slightly above estimates by economists in a Reuters poll but down from 4.7% in the previous quarter.
The rate was at its lowest level since the middle of last year, moving further away from Beijing's 5% annual growth target.Dow Jones Industrial Average rallied to a new record close after strong economic data eased lingering fears of a potential recession. The blue-chip index rose 161 points, or 0.37%, to 43,239.05.Separately, the company said it was committed to complying with laws and regulations, according to Reuters, in response to a media report that U.S. government was probing their dealings with China's Huawei.The Japanese yen weakened past the 150 level overnight and was hovering near that mark on Friday.
All three are on track to notch their sixth straight winning weeks. That would mark the longest weekly positive streaks for the Dow and S&P 500 in 2024.
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