China’s economic growth beat analysts’ estimates last quarter as export demand quickened and services expanded, bolstering the government’s case for avoiding broader stimulus measures.
Gross domestic product rose 7.3 percent in the July-September period from a year earlier, the statistics bureau said today in Beijing. While that exceeded the 7.2 percent median estimate in a Bloomberg News survey of analysts, it was also the slowest expansion since the first quarter of 2009.
China’s leaders have relaxed home-purchase controls and the central bank has pumped liquidity to lenders as they seek to limit a property-induced slowdown. The government has eschewed across-the-board interest rate cuts and signaled it will tolerate a weaker expansion, leaving the economy headed for the slowest full-year growth since 1990.
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