BEIJING, Oct 18 (Reuters) – China’s economy grew at a faster-than-expected clip in the third quarter, while consumption and industrial activity in September also surprised on the upside, suggesting the recent flurry of policy measures is helping to bolster a tentative recovery.<\/p>\n\n\n\n
Rapidly weakening growth in the world’s second-biggest economy since the second quarter prompted authorities to step up their support steps, with Wednesday’s batch of data indicating the stimulus is starting to gain traction although a property crisis and other headwinds continue to pose risks to the outlook.<\/p>\n\n\n\n
Gross domestic product (GDP) grew 4.9% in July-September from the year earlier, data released by the National Bureau of Statistics showed, versus analysts’ expectations in a Reuters poll for a 4.4% increase but slower than the 6.3% expansion in the second quarter.<\/p>\n\n\n\n
On a quarter-by-quarter basis, GDP grew 1.3% in the third quarter, accelerating from a revised 0.5% in the second quarter and above the forecast for growth of 1.0%.<\/p>\n\n\n\n
“It seems that all of that stimulus is finally beginning to take effect, with a broad beat from growth, retail sales, industrial production and unemployment,” said Matt Simpson, senior market analyst at City Index in Brisbane.<\/p>\n\n\n\n
The government is walking a tight rope as it tries to restore economic equilibrium, with policymakers having to navigate a domestic property crisis, high youth unemployment, depressed private sector confidence, a slowdown in global growth and Sino-U.S. tensions over trade, technology and geopolitics.<\/p>\n\n\n\n
Beijing has in recent weeks unveiled a raft of measures, but its ability to spur growth has been hamstrung by fears over debt risks and a fragile yuan, which has been hit hard this year due to widening yield differentials as global interest rates remain elevated, led by the Federal Reserve’s tightening campaign.<\/p>\n\n\n\n
Asian stocks pared<\/a> their losses after the better-than-expected China data, while the yuan<\/a> and trade-dependent Australian and New Zealand dollars all bounced. The yuan hit a one-week high of 7.2905 per dollar.<\/p>","protected":false},"excerpt":{"rendered":" BEIJING, Oct 18 (Reuters) – China’s economy grew at a faster-than-expected clip in the third quarter, while consumption and industrial activity in September also surprised on the upside, suggesting the recent flurry of policy measures is helping to bolster a tentative recovery. Rapidly weakening growth in the world’s second-biggest economy since the second quarter prompted […]<\/p>","protected":false},"author":21,"featured_media":7283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80,81,396],"tags":[],"class_list":["post-7282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia","category-china","category-latest"],"_links":{"self":[{"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/posts\/7282"}],"collection":[{"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/comments?post=7282"}],"version-history":[{"count":0,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/posts\/7282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/media\/7283"}],"wp:attachment":[{"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/media?parent=7282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/categories?post=7282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/tags?post=7282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}