China's economy grows 4.5% in 3rd quarter, easing policy pressure
China's economy grew 4.5% in the third quarter, edging past expectations and picking up slightly from last quarter's slowest growth in years.
The news, announced by the National Bureau of Statistics on Monday, takes some pressure off policymakers and keeps China on track for its yearly growth goal of around 4.5% to 5%.
Chinese exports drive growth, investments drop
Most of this growth came from strong exports, while spending at home stayed pretty weak.
From January to September, overall growth hit 4.6%, with quarterly gains just above predictions.
Retail sales did see their fastest boost since March, up 1.1% in September, and industrial output hit a six-month high at 5.5%.
Still, investments in infrastructure and property dropped sharply, so Beijing is focusing more support on infrastructure and technology to keep things moving forward.