China's economy expanded more than expected in the third quarter underpinned by policy support, suggesting that Beijing is all set to achieve its around 5 percent growth target this year as the property market downturn remains the only major drag on growth.
Gross domestic product posted an annual growth of 4.9 percent in the third quarter, the National Bureau of Statistics said on Wednesday. The rate exceeded the 4.4 percent that economists had penciled in.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.