Update: China’s Third-Quarter GDP Rebounds, Fueled by Government Stimulus

China’s GDP grew 3.9% year-on-year in the third quarter, official data showed Monday, as its economic recovery was held back by strict Covid-19 containment measures and an ongoing property slump.

The figure comes in higher than the average estimate of 3.6% growth in a recent Caixin survey of economists, and well above the 0.4% growth in the second quarter, when the country was battling its worst Covid surge since early 2020 with stringent control measures that hammered some economically important regions, including financial hub Shanghai.