BEIJING (Reuters) — China’s economy grew at the slowest pace since early 2023 in the third quarter, and though consumption and factory output figures beat forecasts last month, a tumbling property sector remains a major challenge for Beijing as it races to revitalize growth.
Authorities have sharply ramped up policy stimulus since late September, but markets are waiting for more details on the size of the package and a clearer road map to put the economy back on a solid longer-term footing.
The world’s second-largest economy grew 4.6% in July-September, official data showed, a touch above a 4.5% forecast in a Reuters poll but below the 4.7% pace in the second quarter.
“China’s Q3 2024 data is not a turn-up for the books,” said Bruce Pang, Chief Economist at JLL. “The performance aligns with market expectations, given the weak domestic demand, a still struggling housing market, and slowing export growth.”
“The stimulus package…
