China's economy grows 4.5% in third quarter on strong exports
China's economy grew 4.5% in the July to September quarter from a year earlier, CNN, The Associated Press and CNBC reported Monday. That was faster than the 4.3% pace of the quarter before. Strong exports drove the gain, while weak spending at home and a long property slump held growth back.
China's economy grew 4.5% in the July to September quarter from a year earlier, China's National Bureau of Statistics said Monday, CNN, The Associated Press and CNBC reported. That was up from 4.3% in the April to June quarter, the slowest pace in more than three years, CNN, The Associated Press and CNBC reported.
The figure beat the 4.4% growth that economists polled by Reuters had expected, CNBC reported. For the first nine months of the year, the economy grew 4.6%, CNN and CNBC reported. Beijing's growth target for the year is 4.5% to 5%, CNN, The Associated Press and CNBC reported.
Exports were the main engine. China's exports rose about 36% in September from a year earlier, CNN and The Associated Press reported. AI-related goods and green technology such as batteries drove much of that rise, CNN reported. China's trade surplus reached about $938 billion from January through September, CNN and The Associated Press reported.
Demand at home stayed weak. Retail sales rose 1.1% in September, CNN and CNBC reported. Fixed-asset investment, which includes spending on factories, infrastructure and property, fell 7.2% in the first nine months of the year, CNN and CNBC reported. Investment in real estate development fell 20.6% in that period, the statistics bureau said, CNBC reported. The long downturn in the property market has cut into household wealth, The Associated Press and CNBC reported.
Mao Shengyong, deputy head of the statistics bureau, warned on Monday that weak demand at home remains a problem, CNN and The Associated Press reported. "It is untenable and unsustainable for the world's second largest economy to rely on foreign demand to prop up its own growth," said Eswar Prasad, an economics professor at Cornell University, The Associated Press reported.
Some trading partners, including the European Union, are pushing to cut their trade gaps with China, The Associated Press reported. Earlier this month, the International Monetary Fund cut its 2026 growth forecast for China to 4.5%, CNN and The Associated Press reported.
What we know: China's economy grew 4.5% in the third quarter, led by exports.
What we don't: Whether growth will hold up in the last three months of the year.
Where outlets agree CNN, The Associated Press and CNBC report that China's economy grew 4.5% in the third quarter, up from 4.3% in the second quarter, on strong exports.
Where they differ The outlets cited here report the same key facts so far.