By AFPBEIJING: The International Monetary Fund has cut its 2023 economic growth forecast for China to 5.0 percent from 5.2 percent, according to a report published on Tuesday. "China's growth momentum is fading following a Covid-19 reopening surge in early 2023," the IMF's twice-yearly World Economic Outlook said. "High-frequency indicators suggest further weakness with the property sector crisis in the country leading the factors hampering growth," it added. FROM OUR ARCHIVES: Q&A | Why China's property sector crisis is fuelling fears of contagion"This is undermining home buyer confidence and prolonging the property sector downturn," the IMF report warned. FROM OUR ARCHIVES: Q&A | Why China's property sector crisis is fuelling fears of contagion "This is undermining home buyer confidence and prolonging the property sector downturn," the IMF report warned.

Source: Indian Express October 10, 2023 23:05 UTC