China reports third-quarter GDP growth of 4.6%, slightly beating expectations [Video]

China’s National Bureau of Statistics on Friday reported third-quarter GDP growth of 4.6% year on year, slightly exceeding the 4.5% expected by economists polled by Reuters.

That’s less than the second-quarter growth of 4.7% year on year. On a quarterly basis, the third quarter saw 0.9% expansion, compared to 0.7% in the second quarter.

“The national economy showed positive signs of growth in September,” Sheng Laiyun, the bureau’s deputy commissioner, said at the press conference, according to CNBC’s translation of the Chinese. “The confidence is building up to hit the full-year growth target of around 5%.”

Other data released on Friday, such as retail sales and industrial production, had also beat expectations, a hopeful sign for the world’s second largest economy.

Beijing has faced growing public scrutiny over its ability to meet its own annual growth target of “around 5%.”

“Since real GDP expanded by 4.8% in the first three quarters of the year, the full year GDP growth target of around …