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Upwork • 7m

China's Q3 Economic Slowdown GDP Growth: China’s GDP grew by 4.6% year-on-year in Q3 2024, down from 4.7% in Q2, falling short of the 5% target. Property Sector Challenges: New home prices declined by 5.8% year-on-year in September, marking the fastest drop since May 2015. The property market continues to struggle with oversupply and weak demand. Industrial Production: Industrial output increased by 5.4% in September, exceeding expectations and showing some resilience. Retail Sales: Retail sales rose by 3.2% year-on-year in September, indicating a slight recovery but still reflecting weak consumer demand. Government Response: The People's Bank of China has implemented support measures, including a share buyback and swap facility, potentially injecting up to 800 billion yuan into the stock market.

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