BEIJING (dpa-AFX) - China's economic growth accelerated in the third quarter, bolstering prospects that the government will meet its full-year growth target, official data revealed Monday.
Gross domestic product grew 4.5 percent on a yearly basis in the third quarter, which was faster than the 4.3 percent expansion seen a quarter ago, the National Bureau of Statistics said. This was also better than forecast of 4.4 percent.
The government aims to achieve 4.5-5 percent economic growth this year.
On a quarterly basis, GDP advanced 1.2 percent in the third quarter compared to the expected rate of 1.1 percent.
Data today showed that industrial production expanded at a faster pace of 5.5 percent from a year ago after a gain of 5.2 percent in August. Economists had forecast a 5.4 percent increase.
Likewise, retail sales posted an annual growth of 1.1 percent in September, following a 0.4 percent rise in August. The growth surpassed economists' forecast of 0.5 percent.
In the first nine months of 2026, fixed asset investment contracted 7.2 percent from the same period last year. At the same time, property investment plunged 20.6 percent.
The urban unemployment rate dropped marginally to 5.2 percent in September, while the rate was expected to remain unchanged at 5.3 percent.
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