China's economy expanded 4.5% year-on-year in the third quarter, outpacing economist forecasts, according to the National Bureau of Statistics of China. The growth rate climbed from 4.3% in the second quarter.
Exports drove the acceleration. Factory output grew much faster than consumer spending during the July-September period, with electronics demand fuelling industrial production. The source attributes this export surge to an AI boom, though it does not specify which AI-related products or sectors generated the strongest demand.
The third-quarter result exceeded expectations. Economists had predicted a lower growth rate before the data release on Monday.
The divergence between export-led factory growth and slower consumer spending suggests China's expansion rests on external demand rather than domestic consumption. The report does not quantify consumer spending growth or provide details on which specific industries benefited most from the electronics surge, leaving open questions about the durability of the export-driven rebound.