China Q3 GDP growth hits early 2023 lows, property remains big drag
Sept retail sales, factory output beat f39;casts; home prices tumble
Beijing ramps up stimulus to meet 2024 target, says goal achievable
Analysts call for clearer policy road map to revitalise economy
China39;s economy likely to expand 4.8 in 2024, poll

BEIJING, Oct 18 Reuters China39;s economy grew at the slowest pace since early 2023 in the third quarter, and though consumption and factory output figures beat forecasts last month a tumbling property sector remains a major challenge for Beijing as it races to revitalise growth.

Authorities have sharply ramped up policy stimulus since late September, but markets are waiting for more details on the size of the package and a clearer road map to put the economy back on a solid longerterm footing.

The world39;s secondlargest economy grew 4.6 in JulySeptember, official data showed, a touch above a 4.5 forecast in a Reuters poll but below the 4.7 pace in the second quarter.

China39;s Q3 2024 data is not a turnup for the books, said Bruce Pang, Chief Economist at JLL. The performance aligns with market expectations, given the weak domestic demand, a still struggling housing market, and slowing export growth.

The stimulus package announced at the end of September will take time and patience to boost growth over the next several quarters, he added.

Officials addressing a postdata press conference on Friday expressed confidence the economy can achieve…