China’s economic growth picked up in the third quarter, recovering from a three-year low as booming exports mitigate a deepening economic slowdown at home

China's economic growth accelerated in the third quarter, reaching a year-on-year growth rate of 4.5%. According to Investing.com, this exceeded the 4.4% forecast from a Reuters poll and improved from the 4.3% growth recorded during the April-to-June period. On a quarterly basis, the economy expanded 1.2%, surpassing the expected 1.1% rise and accelerating from 0.9% in the previous quarter.

For the period of January through September, the economy grew 4.6%, which falls within the government's annual growth target of 4.5% to 5.0%.

The acceleration was driven by foreign demand for technological goods and surging exports, which helped offset sluggish domestic demand. CNBC and CNBC World report that demand for technology largely mitigated weak consumer demand. However, WSJ Economy notes that poor consumer confidence and property market issues continue to weigh on the economy.

Investing.com states that China's strategy of redirecting resources from property toward high-tech industries has resulted in a two-speed economy where strong factory output and exports mask weak private investment and consumption.

Brief written by urgent.news from WSJ Economy, CNBC, CNBC World, Investing.com — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.