China GDP grows 4.5% in Q3, beating estimates

China's economy grew 4.5% in the third quarter of 2026 from a year earlier, above the 4.4% forecast and up from 4.3% in the second quarter. Data from the National Bureau of Statistics of China showed the improvement was driven mainly by a jump in exports and manufacturing activity, despite still-weak domestic demand. In September, retail sales rose 1.1% from a year earlier, faster than 0.4% in August, while industrial output grew 5.5%, the strongest pace in six months. The recovery remained uneven, however. Urban fixed-asset investment in January-September was still down 7.2%, while property development investment fell 20.6%. For the first nine months of the year, China's economy grew 4.6%, still in line with the government's 4.5%-5.0% target.