China's Growth Stagnation Sparks Calls for Stimulus

China's economy experienced its slowest growth since early 2023 in Q3, prompting calls for more stimulus. GDP increased by 4.6% year-on-year, outperforming forecasts, yet a faltering property sector may necessitate additional measures to support growth. Analysts await clearer fiscal policy direction.

China's economic growth in the third quarter of 2023 slowed, marking the slowest pace since early 2023. Although consumption and industrial output figures exceeded expectations, a faltering property sector has led to renewed calls for more government stimulus to spur growth.

The latest data revealed a year-on-year GDP increase of 4.6% between July and September, surpassing the 4.5% forecast from a Reuters poll, but down from the 4.7% recorded in the previous quarter. Retail sales and industrial output also showed signs of improvement, indicating a mixed economic picture.

The government has already begun implementing policy measures to address these challenges, but experts suggest that more needs to be done to reach growth targets. Investors are keeping a close watch on upcoming policy announcements expected to be revealed during China's legislative meetings, aiming for a more robust economic framework.

(With inputs from agencies.)