China's economy picks up pace in Q3 as exports power uneven recovery
BEIJING - China's economy grew faster than expected in ‌the third quarter as a surge in exports and strong factory activity offset persistent weakness in domestic demand, easing pressure on policymakers to roll out more forceful stimulus measures.
China's economy experienced a stronger-than-expected growth in the third quarter due to a surge in exports and robust factory activity, according to data released by the National Bureau of Statistics. The 4.5% growth rate exceeded expectations, and the trade surplus widened more than anticipated in September. However, domestic demand remained a weak point, with consumer spending remaining subdued.
Industrial output grew 5.5% in September, marking the strongest pace in six months. Policymakers have maintained a hands-off approach, relying on exports driven by the global tech boom. Despite the strong growth, officials have emphasized the need for continued efforts to boost household consumption and services demand to achieve a more balanced and sustainable recovery.
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Also reported by 4 other outlets
- China’s economy grows 4.5% on robust exports as domestic weakness persists euronews.com
- China's economy picks up pace in Q3 as exports power uneven recovery koreatimes.co.kr
- India, China: Forces reshaping global economy, world order hindustantimes.com
- As global money gets costlier, India must protect investor trust indianexpress.com
