In the third quarter of 2025, economic growth trends among China, the U.S., and the European Union showed marked divergence. China’s GDP grew 4.8% year-on-year and 1.1% quarter-on-quarter, continuing a gradual slowdown since the fourth quarter of 2024, down from 5.4%. In contrast, the EU recorded a 1.6% year-on-year and 0.4% quarter-on-quarter increase, reflecting steady performance with sustained modest recovery over several consecutive quarters. U.S. Q3 GDP data remain unreported, leaving its growth trajectory under observation. From a demand-side perspective, China’s growth remains primarily driven by services and consumption. The tertiary sector expanded by 5.4%, serving as the main driver; the secondary sector grew 4.2%, while the primary sector saw a moderate 4.0% expansion—indicating concurrent domestic demand recovery and industrial upgrading. Meanwhile, the EU’s performance was supported by sustained growth in final consumption expenditure (up 1.5% YoY) and a strong rebound in gross capital formation (up 3.4% YoY), alongside export growth of 3.0%. Despite slightly higher import growth (3.8%), net exports contributed positively and stably to overall expansion. Overall, the three regions exhibited temporary divergence. While China’s growth momentum has eased, it remains within a reasonable range, reflecting the effectiveness of policy-driven stabilization measures. The EU demonstrated strong internal resilience, with clear dual drivers from investment and consumption. The U.S., however, lacks sufficient data to assess whether its economy is entering an adjustment phase. Moving forward, attention should focus on Federal Reserve policy shifts and global supply chain developments affecting the U.S. and EU, while China’s future growth path will depend on the outcomes of structural reforms and demand-stimulating policies.