China’s economy continues to slow, Rattled by real estate and energy

Steel mills have faced power cuts. Computer chip shortages have slowed car production. Troubled property companies have purchased less construction material. Floods have disrupted business in north-central China.

It has all taken a toll on China’s economy, an essential engine for global growth.

The National Bureau of Statistics announced Monday that China’s economy increased 4.9% in the third quarter from the same period last year; the period was markedly slower than the 7.9% increase in the previous quarter. Industrial output, the mainstay of China’s growth, faltered badly, especially in September, posting its worst performance since the early days of the pandemic.