China's economic growth picks up in third quarter, beating expectations
BEIJING: China’s economic growth rebounded to 4.5% year-on-year in the third quarter, beating expectations and easing the pressure on policymakers for delivering more aggressive stimulus measures to meet the annual target. The third-quarter gross domestic product growth rate, released by the Bureau of Statistics (NBS) on Monday, beat the forecast for 4.4% growth in a Reuters poll, and improved…
China's economic growth rebounded to 4.5% year-on-year in the third quarter, surpassing expectations and easing pressure on policymakers to implement more aggressive stimulus measures to meet the annual target. The Bureau of Statistics released the third-quarter GDP growth rate, which improved from the three-year low of 4.3% in the previous quarter and beat the forecast of 4.4% growth.
While Beijing has heavily relied on exports for growth this year, the engine faces growing pressure due to weak domestic demand and escalating trade tensions with the European Union.
Brief written by urgent.news from Business Recorder's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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