BEIJING - China's gross domestic products (GDP) grew 4.8 percent year-on-year in the first nine months of 2024, official data showed on Friday.

The GDP reached around 94.97 trillion yuan ($13.33 trillion) in the January-September period, data from the National Bureau of Statistics showed.

In the third quarter, the economy expanded 4.6 percent year-on-year, according to the bureau.

Industrial output

The country's value-added industrial output, an important economic indicator, went up 5.8 percent year-on-year in the first three quarters, according to the data from the bureau.

In September, the industrial output rose 5.4 percent year on year, and the growth pace was 0.9 percentage points faster from the previous month.

The industrial output measures the activity of enterprises each with an annual main business turnover of at least 20 million yuan.

ALSO READ: China's manufacturing sector picks up amid sustained economic recovery

Fixed-asset investment

The bureau's data also indicated that China's fixed-asset investment rose 3.4 percent year-on-year in the first three quarters.

The investment totaled 37.8978 trillion yuan during the period, the bureau said.

Investment in infrastructure construction rose 4.1 percent from a year ago during the January-September period, and manufacturing investment increased 9.2 percent. Investment in high-tech industries posted robust growth, up 10 percent.

Excluding the property sector, the country's fixed-asset investment climbed 7.7 percent in the first three quarters. Investment in property development fell 10.1 percent.

Retail sales

On the country's consumption market, the retail sales of consumer goods went up 3.3 percent year-on-year in the January-September period, the bureau said.

The retail sales of consumer goods totaled 35.3564 trillion yuan ($4.96 trillion) during the period, according to the bureau's data.

In September, retail sales rose 3.2 percent year-on-year.

ALSO READ: China's economy seen to stay on upward trajectory amid headwinds

Home prices

On the propery market, the decline in the prices of commercial residential homes in China's 70 large and medium-sized cities stabilized on a month-on-month basis in September, the official data showed.

In the country's first-tier cities, namely Beijing, Shanghai, Guangzhou and Shenzhen, new home prices edged down by 0.5 percent, compared with a 0.3-percent drop in the previous month. Second- and third-tier cities both registered declines of 0.7 percent month-on-month, according to the bureau.

The bureau's data indicated that in September, prices of second-hand homes fell by 1.2 percent in first-tier cities month-on-month, 0.9 percent in second-tier and third-tier cities.

ALSO READ: World Bank, Barclays raise GDP forecast for China

Urban unemployment

China's job market remained generally stable in the first three quarters as the surveyed urban unemployment rate dropped on a year-on-year basis, according to the official data.

The surveyed urban unemployment rate on average stood at 5.1 percent in the first three quarters, down 0.2 percentage points from the same period last year, the bureau said.

In September, the surveyed urban unemployment rate in the country came in at 5.1 percent, down 0.2 percentage points from the previous month.

READ MORE: China to prioritize employment policy reforms to support modernization

Service output

Friday's data also indicated that China's value-added service output increased by 4.7 percent year-on-year in the January-September period.

The value-added output of information transmission, software, and IT service sectors increased 11.3 percent, while that of catering and accommodation sectors expanded 6.3 percent year on year.

The index gauging the country's service industry output rose 5.1 percent year on year in September, increasing by 0.5 percentage points from that the previous month.