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3h ago

China Growth Slows to 4.8% With Retail Weakness, Markets Rise on Softer U.S.-China Tone

Beijing's leadership meetings put potential stimulus under scrutiny.

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 17, 2025. REUTERS/Brendan McDermid
A drone view shows a container ship at a port in Zhoushan, Zhejiang province, China October 10, 2025. cnsphoto via REUTERS
Image
A woman with an umbrella passes the New York Stock Exchange, Monday, Oct. 13, 2025. (AP Photo/Richard Drew)

Overview

  • Official data show third-quarter GDP rose 4.8% year on year and 1.1% quarter on quarter, the slowest annual pace in a year but slightly firmer sequentially than forecast.
  • September figures underscored a split in activity, with industrial output up 6.5% year on year and retail sales growth easing to 3.0%, while fixed-asset investment fell 0.5% in the first nine months on a sharp property slump.
  • Investor sentiment improved after President Donald Trump struck a more conciliatory tone and U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng agreed to resume talks.
  • Asian shares advanced, with Hong Kong and Shanghai higher and Japan’s Nikkei surging on domestic political developments, as Europe and U.S. equity futures also firmed.
  • Markets are pricing a Federal Reserve rate cut at the late-October meeting with another likely in December, while a heavy U.S. earnings slate and a delayed September CPI report later this week could test the rally.