China's economy, hit by tariffs, slows to 4.8% annual growth in Q3

"China's economy expanded at the slowest annual pace in a year in July-September, growing 4.8%, weighed down by trade tensions with the United States and slack domestic demand.The July-September data was the weakest pace of growth since the third quarter of 2024, and compares with a 5.2% pace of growth in the previous quarter, the government said in a report Monday.In January-September, the world's second largest economy grew at a 5.2% annual pace."

"Despite U.S. President Donald Trump's higher tariffs on imports from China, its exports have remained relatively strong as companies expanded sales to other world markets.China's exports to the United States fell 27% in September from the year before, even though growth in its global exports hit a six-month high, climbing 8.3%.Exports of electric vehicles doubled in September from a year earlier, while domestic passenger car sales climbed 11.2% year-on-year in last month, down from a 15% rise in August,"

"China is also facing challenges including a prolonged property sector downturn which has been affecting consumption and demand.Data released Monday showed China's residential property sales fell 7.6% by value in the January-September period from a year earlier. Industrial output rose 6.5% year-on-year last month, the fastest pace since June, but retail sales growth slowed to 3% from the year before."

China's economy grew 4.8% in July–September, the slowest annual pace in a year, down from 5.2% in the prior quarter. Exports remained resilient overall despite higher U.S. tariffs, with global export growth climbing 8.3% and electric vehicle exports doubling year-on-year. Exports to the United States fell sharply. Domestic demand showed weakness: retail sales growth slowed and residential property sales fell by value. Industrial output accelerated to its fastest pace since June. Authorities moved to curb price wars in some sectors as excess capacity and a prolonged property slump weighed on consumption and demand.

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