China’s Third-Quarter GDP Rises 4.6%, Beating Expectations

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China’s growth momentum has been faltering over the past few months as the economy faces the twin headwinds of tepid domestic demand and a sluggish property market. Photo: AI generated

The world’s second-largest economy expanded 4.6% year-on-year in the third quarter, official data showed Friday, beating market expectations.

The GDP growth figure, released by the National Bureau of Statistics (NBS), compared with the average estimate of 4.4% in a Caixin survey of economists and 4.7% in the second quarter, taking the year-on-year increase in the first nine months to 4.8%.

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China's GDP grew 4.6% year-on-year in Q3, surpassing expectations of 4.4%, but slowing from Q2's 4.7%.
Facing weak domestic demand and a sluggish property market, China's export growth slowed to 2.4% in September.
The government introduced measures like cutting bank reserve ratios and supporting housing to counteract the economic slowdown.

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