Cramer: China is doing better domestically

Cramer on China's GDP data

China's GDP numbers could be a sign that the economy is stabilizing, said CNBC's Jim Cramer on Monday.

"I continue to think that, domestically, China is a little bit better," he said on an interview with CNBC's "Squawk on the Street." "China has pluses and minuses versus six months ago when I thought it only had minuses."

China's economic growth eased to 6.9 percent in the third quarter from a year earlier, beating expectations but still the slowest since the global financial crisis, putting pressure on policymakers to roll out more support measures as fears of a sharper slowdown spook investors.

China's Q3 GDP up 6.9% y-o-y compared to forecast of 6.8%

Analysts polled by Reuters had predicted growth in gross domestic product (GDP) for the world's second-largest economy would grow by 6.8 percent, compared with 7 percent in the prior quarter.

Cramer attributes the better-than-expected numbers to the Chinese government's easing of a crackdown on conspicuous consumption.

"I think there was pent-up demand," he said. "The Communist Party has loosened the reins on the idea that you are out there showing your wealth."

— Reuters contributed to this report.