IMF warns on China's property market worsening as it cuts country's growth outlook

  • 📰 NBCPhiladelphia
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

News News

Business Business Latest News,Business Business Headlines

In a report published Tuesday, the IMF trimmed its forecast for growth in China for this year to 4.8%, 0.2 percentage points lower than in its July projection.

The Washington, D.C.-based organization highlighted that China's property sector contracting by more than expected is one of many downside risks for the global economic outlook.

The International Monetary Fund warned of a possible worsening of the state of China's property market as it trimmed its growth expectations for the world's second-largest economy.published Tuesday, the IMF trimmed its forecast for growth in China for this year to 4.8%, 0.2 percentage points lower than in its July projection. In 2025, growth is expected to come in at 4.5%, according to the IMF.

Historical property crises in other countries like Japan and the U.S. show that unless the crisis in China is addressed, prices could correct further, the IMF's World Economic Outlook noted. This in turn could send consumer confidence lower and reduce household consumption and domestic demand, the agency explained.China has announced the introduction of various measures aimed at boosting its fading economic growth in recent months.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 569. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

10 things to watch in the stock market Tuesday, including long-awaited China stimulusWall Street is looking at a higher open Tuesday, one day after the S&P 500 closed at a record high.
Source: CNBC - 🏆 12. / 72 Read more »

China stocks poised to reopen Tuesday with markets fixated on fiscal stimulusTraders are closely watching for additional policy measures as Beijing has signaled a sense of urgency in bringing its economy back on track.
Source: NBCLA - 🏆 319. / 59 Read more »