Oct 18, 2023 10:00 AM

ECONOMY

Update: China Q3 GDP Beats Market Estimates Amid Pickup In Consumption

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China’s GDP grew 4.9% year-on-year in the third quarter, beating market expectations as consumption picked up and industrial production stabilized amid government measures to support growth.

The figure exceeds the average estimate of 4.5% in a recent Caixin survey of economists. It is lower than the 6.3% growth in the second quarter, but the latter can be partly attributed to a low base in the same period in 2022.

　

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