China Q4 GDP Growth Slows to Three-Year Low as Domestic Demand Weakens

China Q4 GDP growth slowed to a three-year low as domestic demand weakened, even as the full-year pace met Beijing’s target, official data showed.

Gross domestic product grew 4.5% in October–December from a year earlier, easing from 4.8% in the third quarter, while 2025 growth came in at 5.0%, the National Bureau of Statistics said.

A record trade surplus and firmer industrial output underscored exporters’ resilience, but consumption and investment remained soft amid a prolonged property slump and deflationary pressures.

In December, industrial output rose 5.2%, but retail sales growth slowed to 0.9%.

Fixed-asset investment fell 3.8% in 2025 and property investment slid 17.2%, adding to calls for more policy support as China Q4 GDP growth cools.