Economy: China's economy growing slightly faster - export boom is getting stronger
Growth is slightly above expectations. However, the new figures also show weakness in the domestic economy: consumption is sluggish, and the real estate crisis remains a dominant factor.
China's economy gained momentum in the summer, with the third-quarter GDP growing 4.5% year-over-year, according to the National Bureau of Statistics in Peking. This growth beat economists' expectations and followed 4.3% growth in the second quarter and 5.0% in the first quarter. For the first nine months, China's economy grew 4.6%, within the government's target of 4.5-5% for the year. The export sector boomed, with a 21.3% increase in exports in US dollar terms for the first nine months and 36.3% in September alone.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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