China's Q3 GDP growth accelerates to 4.5%, beating forecast

BEIJING, Oct 19 (Reuters) - ‌China's ​economic ​growth rebounded to 4.5% year-on-year in the third quarter, beating expectations ‌and easing the pressure on policymakers ⁠to deliver more aggressive stimulus measures to ‌meet the annual target.

Analysts ‌polled by Reuters had forecast 4.4% growth in gross domestic product (GDP) from the ​same period last year, an improvement from the more-than-three-year low of 4.3% ⁠in the April-to-June period.

Aiming for 4.5%-5% growth for the ​whole year, China's top leaders had vowed to introduce effective new ​policies to support the ‌economy as muted domestic demand and investment weighed on a ⁠broader recovery despite solid goods export performance.

Authorities recently expanded support for home buyers and ⁠unveiled measures to steer cheaper credit into sectors ​including infrastructure and technology. They have refrained from releasing large-scale stimulus.

On a quarterly basis, GDP grew 1.2% ‌in the third quarter, surpassing expectations for a 1.1% rise ‌and compared with a 0.9% expansion ⁠in the previous ‌quarter.

($1 = 6.6909 Chinese ​yuan)

(Reporting by Kevin Yao, Ellen Zhang and Yukun Zhang;Editing by Shri ‌Navaratnam)

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