China's Q3 economic growth hits 4.5%

Economic growth in China accelerated in the third quarter of the year, reaching 4.5% year-over-year, surpassing expectations of 4.4%. This increases the likelihood of achieving the annual growth target set between 4.5% and 5%. Over the first nine months of the year, gross domestic product grew to 4.6%. With data improving, policymakers might delay further easing measures, although challenges remain, including weak domestic spending and the ongoing downturn in the real estate sector. China also saw a significant increase in exports of refined petroleum products, rising by 39.4% in September, while industrial growth accelerated to 5.5%. Retail sales unexpectedly grew by 1.1% in September, supported by an improving labor market. However, experts indicate that the recovery remains unstable, despite signs of economic improvement.

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