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- China’s economic growth accelerated to 4.5% in the third quarter, picking up from a three-year low of 4.3% in the prior quarter.
- For the first nine months of this year, fixed asset investment in urban areas declined 7.2%.
- In September, retail sales eked out 1.1% growth, and Industrial output grew 5.5% from a year earlier.
- The urban unemployment rate stood at 5.2% in September.
HONG KONG, CHINA – OCTOBER 17: People walk along the waterfront beneath Chinese national and Hong Kong regional flags, while others take photographs beside the harbour, with the city’s skyline behind them, on October 17, 2026 in Hong Kong, China. Cheng Xin | Getty Images News | Getty Images
China’s economic growth accelerated to 4.5% in the third quarter from a year earlier, as foreign demand for the country’s technological goods largely offset a deepening property slump and sluggish consumer demand.
That compares with a 4.4% expansion forecast among economists polled by Reuters and the three-year low of 4.3% in the second quarter.
The data shows an economy still leaning on factories and overseas buyers while households and private investors hold back. Growth through the first nine months averaged 4.6%, near the lower end of Beijing’s official target range of 4.5% to 5%.
For the first nine months this year, fixed asset investment in urban areas deepened declines, falling 7.2% from the same period a year earlier, compared with a 7.3% drop in Reuters poll.
In September, retail sales eked out a 1.1% growth, exceeding analysts’ forecast for 0.6% increase, while industrial output grew 5.5% from a year earlier, in line with the forecast of 5.5% growth.
The urban unemployment rate stood at 5.2% in September.
Beijing has leaned heavily on exports for growth this year, but that engine faces growing pressure as investment in AI-related sectors cools and trade tensions with the European Union escalate.
Chinese authorities have stepped up policy support, including a package of targeted rate cuts and mortgage subsidies in late September. In early October, it also allocated 550 billion yuan of unused debt quota to local governments.
Economists largely expect the People’s Bank of China to hold benchmark lending rates unchanged through this year, leaving fiscal measures to do most of the work.
Correction: This story has been revised to reflect that quarterly GDP growth was 4.5%.
