China's Third Quarter Economic Slowdown Amid Property Struggles

China's economy expanded at a slower pace in Q3, facing challenges from a declining property sector. While consumption and factory output exceeded predictions, the market waits for detailed stimulus measures. Officials remain hopeful about reaching growth targets despite ongoing weaknesses in real estate and international trade.

China's economy experienced its slowest growth since early 2023 in the third quarter, despite consumption and factory output figures surpassing forecasts. The tumbling property sector presents a significant challenge for Beijing, which is striving to reinvigorate growth through increased policy stimulus.

The world's second-largest economy expanded by 4.6% between July and September, slightly above the predicted 4.5% but below the 4.7% growth seen in the second quarter. Policymakers are optimistic about achieving the government's full-year growth target of around 5% with further policy support.

However, the property market continues to show significant weakness, affecting consumer confidence and spending, which are crucial for business performance. Despite several policy measures, the sector shows little sign of revival, prompting calls for more robust support efforts.

(With inputs from agencies.)