China's economy grows 5.2% in first three quarters

China's economy grew 5.2% in the first three quarters from a year earlier, official data showed on Monday, as resilient manufacturing and exports helped offset property weakness and tepid domestic demand.

Gross domestic product reached 101.5 trillion yuan (about US$14 trillion), according to the National Bureau of Statistics. Growth slowed to 4.8% in the third quarter from 5.2% in the second, while the economy expanded 1.1% quarter-on-quarter.

Industrial output rose 6.2% in the January–September period, driven by a 9.7% increase in equipment manufacturing and a 9.6% rise in high-tech manufacturing. Retail sales gained 4.5%, while fixed-asset investment excluding property edged up 3%. Exports increased 7.1% and imports slipped 0.2%.

Consumer prices fell 0.1% year-on-year in the first three quarters, with core inflation at 0.6%. Producer prices were down 2.8% but the decline narrowed in September. The average urban jobless rate stood at 5.2%.

The statistics bureau said the economy showed "resilience and vitality" but warned of persistent external uncertainties and weak domestic recovery momentum.