| Summary: | Activity in China continues to track the ups and downs of the pandemic - outbreaks and growth slowdowns have been followed by uneven recoveries. After a downturn caused by the Coronavirus disease 2019 (COVID-19) outbreaks and stringent public health measures in April and May, activity picked up in the third quarter as infections receded. Gross domestic product (GDP) expanded by 3.9 percent y/y in Q3, from 0.4 percent in Q2. High frequency indicators suggest another growth slowdown in the fourth quarter amid a return of high COVID-19 cases. Despite fiscal and monetary policy support, real GDP growth is expected to slow to 2.7 percent in 2022 - 1.6 percentage points lower than projected in the June China economic update. In 2023 growth is projected to recover to 4.3 percent but remain below the potential rate
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