China's economy picks up pace in Q3 as exports power uneven recovery
BEIJING — China's economy grew faster than expected in the third quarter as a surge in exports and strong factory activity offset persistent weakness in domestic demand, easing pressure on policymakers to roll out more forceful stimulus measures. The 4.5% growth rate, released by the National Bureau of Statistics (NBS) on Monday, beat the forecast for 4.4% growth in a Reuters poll, and improved from the more-than-three-year low of 4.3% in the April-to-June period. The stronger headline growth was underpinned by a surge in exports, with China's trade surplus widening more than expected in September and keeping the country on track to surpass last year's record $1.2 trillion surplus. September activity data also showed signs of improvement. Retail sales rose a better-than-expected 1.1% from a year earlier, accelerating from August's 0.4% increase and marking the fastest growth since March. Consumer spending remained subdued overall, however, highlighting the uneven nature of the recovery. Industrial output grew 5.5% in September, up from 5.2% in August and marking the strongest pace in si
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