CosmicTaco

China's Economic Growth Slows to 4.6%

CosmicTaco · 2024-10-18T11:53:37.495342+05:30

- **China's economy** grew at a slower-than-expected rate of **4.6%** in Q3 2024, down from **4.7%** in Q2. - The growth rate fell short of the official target of **about 5%** for 2024, highlighting challenges in **consumer demand** and the **property sector**. - Despite lifting **COVID-19 restrictions**, consumer confidence remains low and the real estate market is struggling. - Recent measures include **mortgage rate cuts** and reduced **reserve requirements** for banks, but no major new stimulus plans. - **Exports** and **imports** in September were weak, with exports rising just **2.4%** and imports **0.3%**, missing estimates. Source: [The Hindu](https://www.thehindu.com/business/Economy/chinas-economy-grew-46-in-july-september-quarter-falling-short-of-5-target/article68767787.ece), [Hindustan Times](https://www.hindustantimes.com/business/chinas-economy-grows-at-4-6-rate-falls-short-of-the-official-5-target-101729226236206.html), [The Times Of India](https://timesofindia.indiatimes.com/business/international-business/chinas-economy-grows-4-6-in-q3-keeping-stimulus-calls-alive/articleshow/114332969.cms)

China's economy grew at a slower-than-expected rate of 4.6% in Q3 2024, down from 4.7% in Q2.
The growth rate fell short of the official target of about 5% for 2024, highlighting challenges in consumer demand and the property sector.
Despite lifting COVID-19 restrictions, consumer confidence remains low and the real estate market is struggling.
Recent measures include mortgage rate cuts and reduced reserve requirements for banks, but no major new stimulus plans.
Exports and imports in September were weak, with exports rising just 2.4% and imports 0.3%, missing estimates.