China's economy grew 4.5% in the third quarter of this year, beating market expectations.
China's National Bureau of Statistics announced Monday (local time) that GDP expanded 4.5% year-on-year in the third quarter, according to Reuters. The figure surpassed the 4.4% consensus forecast compiled by Reuters.
China has set a full-year growth target of 4.5 to 5 percent for this year. GDP growth stood at 5.0 percent in the first quarter but slipped to 4.3 percent in the second — well below the target and the weakest reading in roughly three years since the fourth quarter of 2022.
The third quarter marked a partial recovery from that second-quarter weakness. Despite sluggish domestic demand, China has sustained strong exports amid a global AI boom, offsetting the domestic shortfall through trade. The country's cumulative trade surplus from January through last month reached $938.11 billion, and analysts have forecast China could surpass $1 trillion in trade surplus as early as this month.
kate01@heraldcorp.com
