China's economic growth continues to slow down in October as weak consumer demand, escalating real estate crises, and declining investment flows take their toll. Fixed asset investment fell 1.7% in the first 10 months of the year, while real estate investment plummeted 14.7%. Industrial production only rose 4.9% due to sluggish factory activity, while retail sales increased by 2.9% – marking the fifth consecutive month of slowing consumer spending.
Home prices have recorded the strongest decline in nearly a year, indicating that the real estate sector continues to weaken. Exports have decreased for the first time in nearly two years due to trade tensions. Inflation rose slightly by 0.2% and core CPI increased by 1.2%. Growth in the third quarter fell to 4.8%, putting pressure on policies to stimulate domestic demand and stabilize the housing market.
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