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

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.

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