China economy likely to show recovery is fading quickly
China's economic recovery is losing momentum as pent-up demand, government stimulus and surprisingly resilient exports fade.
The renewed coronavirus outbreak and softening global growth are testing Beijing's resolve to keep up policy support.
China's economy grew 4.9% in the third quarter from a year earlier, slower than the second quarter's 3.2% growth.
Retail sales, a key gauge of consumption, fell 7.2% in the first three quarters from a year earlier.
Industrial output rose 5.8% in September from a year earlier, slower than the 6.9% growth in August.
Fixed-asset investment fell 0.8% in the first nine months from a year earlier.
China's central bank has been cautious in cutting interest rates, fearing a surge in debt and property prices.
The government has also been reluctant to unleash another massive stimulus package like the one in 2008-09, which left a legacy of debt and excess capacity.
The International Monetary Fund has forecast China's economy will grow 1.9% this year, the only major economy expected to expand.
The IMF has also warned that China's recovery could be derailed by a resurgence of COVID-19 cases or a renewed global downturn.