The Globe and Mail reports in its Thursday, Oct. 19, edition that China's economy grew at a faster-than-expected clip in the third quarter, while consumption and industrial activity in September also surprised on the upside, suggesting the recent flurry of policy measures is helping to bolster a tentative recovery. A Reuters dispatch to The Globe reports that rapidly weakening growth in the world's second-biggest economy since the second quarter prompted authorities to step up their support steps, with Wednesday's batch of data indicating the stimulus is starting to gain traction although a property crisis and other headwinds continue to pose risks to the outlook. The rosier-than-expected data have prompted international banks to upgrade their 2023 growth outlook, with Nomura raising its forecast to 5.1 per cent versus 4.8 per cent previously and JPMorgan lifting its forecast to 5.2 per cent from 5 per cent. Moody's Analytics has also raised its 2023 growth projection to 5 per cent from 4.9 per cent. Reuters notes that a deepening downturn in the property sector, which accounts for nearly a quarter of economic output, poses a big challenge to policy makers as they seek to keep growth on track, analysts said.