China’s growth accelerated more than expected in the third quarter, boosting the odds of the economy reaching Beijing’s annual target and dimming the prospects for additional easing measures.
Gross domestic product grew 4.5% from a year ago after a gain of 4.3% in the second quarter, according to data released by the National Bureau of Statistics on Monday, compared with the median forecast of 4.4% by economists surveyed by Bloomberg. That took expansion in the first nine months of the year to 4.6% — within the government’s annual goal of 4.5% to 5%.
“Bigger fiscal spending helped both fixed asset investment and retail sales,” said Xing Zhaopeng, senior China strategist at Australia & New Zealand Banking Group.?“The recovery remains unsolid because the fiscal outlook is not stable. The question will be how much fiscal expansion can do in the future. We still see a downside risk to 2027.”
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