BEIJING, Oct 18 — China’s economy likely grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks and raising heat on policymakers amid rising jitters over the property sector.
On a quarterly basis, growth is forecast to ease to 0.5 per cent in July-September from 1.3 per cent in the second quarter, the poll showed. Global worries about a possible spillover of credit risk from China’s property sector into the broader economy have also intensified as major developer China Evergrande Group wrestles with more than US$300 billion of debt.
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