China’s Q3 GDP growth accelerates to 4.5%, beating forecast
China's economic growth showed a rebound in the third quarter, reaching 4.5% year-on-year, surpassing market expectations and easing pressure on policymakers to implement more aggressive stimulus measures to meet the annual target. Analysts had predicted a growth rate of 4.4% for the same period last year, marking an improvement from the three-year low of 4.3% during the April-to-June quarter.
The central aim for the entire year is to achieve growth between 4.5% and 5%, as muted domestic demand and investment have weighed on the broader recovery despite a solid performance in goods exports. Recent authorities have expanded support for home buyers and unveiled measures to channel cheaper credit into sectors such as infrastructure and technology, but have refrained from releasing large-scale stimulus.
On a quarterly basis, GDP grew by 1.2% in the third quarter, exceeding expectations of a 1.1% increase. This marks a contrast to the 0.9% expansion recorded in the previous quarter.
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