China’s economy grew by 4.6% in the third quarter — CNBC

CNBC reported that China’s economy grew by 4.6% in the third quarter compared with the same period of the previous year. According to the outlet, the pace of growth accelerated.

External demand for technology goods

External demand for Chinese-made technology goods became an important factor supporting economic growth in the third quarter amid weak domestic demand. According to CNBC, this foreign demand largely offset the negative impact of the deepening downturn in the real estate market and sluggish consumer demand.

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Domestic risks to the economy

Weak consumer demand and problems in the real estate sector continued to restrain the country’s economic momentum at the same time. The headline of the CNBC article also mentions a surge in exports and the rollout of stimulus measures.

Support from abroad did not eliminate domestic problems but largely offset their impact on the economy. The figure refers to a comparison with the same quarter of the previous year, rather than a change from the previous quarter.