China’s third-quarter economic growth slows to 4.9%: Official data

China’s economic growth in the third quarter slowed to 4.9 percent due to a property crisis impacting consumption and business activity. The figure exceeded analysts’ predictions but was lower than the previous quarter’s expansion. The real estate sector, which contributes a significant portion to the country’s GDP, has been hit by the troubles faced by major developers like Evergrande and Country Garden.