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Monday, 19 October 2026

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China’s Exports Are Strong. Its Consumers Are Still Holding Back

China's economy grew faster than expected in Q3 2026, but its strong export performance contrasts with weak retail sales and persistent property-market challenges.

By Katherine (Kay)3 min read

Beijing, 19 October 2026 – China’s economy is showing signs of strength, but not everywhere. On 19 October, official figures showed that China’s gross domestic product grew 4.5% year on year in the third quarter of 2026, improving from 4.3% in the previous quarter.

The result exceeded market expectations, supported by strong exports and industrial activity. September industrial production rose 5.5%, highlighting continued momentum in manufacturing.

Consumer spending, however, told a different story. Retail sales increased by just 1.1%, while property investment continued to decline.

China is producing and exporting strongly, but its domestic economy is not moving forward at the same pace.

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Author

  • Kay like to explores the intersection of money, power, and the curious humans behind them. With a flair for storytelling and a soft spot for market drama, she brings a fresh and sharp voice to Southeast Asia’s business scene.
    Her work blends analysis with narrative, turning headlines into human stories that cut through the noise. Whether unpacking boardroom maneuvers, policy shifts, or the personalities shaping regional markets, Kay offers readers a perspective that is both insightful and relatable — always with a touch of wit.