China's third-quarter economic growth quickens to 4.5% as exports surge, beating estimates
China reported a third-quarter economic growth rate of 4.5%, beating consensus expectations as a surge in exports bolstered activity. Policymakers continue to lean on external trade while navigating domestic real estate and consumer demand challenges.
- XAU
Stronger Chinese economic data boosts broader commodity demand sentiment.
China's gross domestic product expanded by 4.5% year-on-year in the third quarter, surpassing economist forecasts due to robust overseas shipments. The stronger-than-expected export performance provided a vital buffer against persistent weakness in the domestic property sector. Government officials have implemented various targeted measures to support domestic consumption and stabilize industrial output. However, economists warn that reliance on external trade leaves the economy vulnerable to shifting global demand and rising trade tensions. Central bank officials are expected to maintain accommodative monetary policies to ensure growth stays within official targets. Global markets responded cautiously, weighing the positive headline growth against ongoing structural headwinds.
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