China's third-quarter economic growth came in stronger than expected, boosting hopes that the world's second-largest economy will meet Beijing's annual target this year.
China posted 4.9% growth in the July to September quarter from a year earlier, stronger than the median forecast for 4.6%.
Economic activity has shown signs of stabilization in recent data. On Wednesday, September data for retail sales and industrial production also bested median forecasts, with the cumulative fixed asset investment print for the first nine months this year slightly below expectations. That's stronger than economists expectations for third-quarter GDP of 4.6%, according to a Reuters poll. This follows the 6.3% print for the April-June quarter and 4.5% growth for the January-March quarter.
Fixed asset investment increased 3.1% in the first nine months of the year compared to the same cumulative period a year ago, slightly lower than the median forecast for 3.2% growth.
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