China's Q3 Growth Beats Expectations Amid Stimulus Anticipations

China's economy grew 4.6% in Q3 2023, slightly surpassing analysts' forecasts. This maintains pressure on policymakers to introduce more stimulus measures. The slight growth signals difficulties in meeting the official 5% growth target, as structural challenges and weak private spending persist.

China's economy posted a 4.6% expansion in the third quarter of 2023, marginally surpassing analysts' expectations of 4.5%. Despite this growth, challenges loom as policymakers face increasing pressure to implement further stimulus measures.

Official data released on Friday indicates a slight slowdown from the previous quarter's 4.7% announcement. Economists see a 5% growth target for the year as increasingly ambitious, given ongoing structural issues, including high debt levels and an ageing population.

Analysts suggest that significant policy intervention is necessary to ensure better economic performance in 2024. Investors anticipate details of fiscal stimulus, potentially influenced by external factors like the U.S. election results, to be unveiled at China's upcoming legislative assembly meeting.

(With inputs from agencies.)