China's Economy Beats Expectations in Q3; Retail Sales Surge While Real Estate Drags

China's economy expanded 4.9% in Q3 2022, beating forecasts and putting annual growth target within reach

Consumer spending has emerged as a bright spot, while real estate remains a drag on growth

Retail sales jumped 5.5% in September, fastest pace in 4 months, boosted by Golden Week holiday spending

Unemployment rate dropped to 5% in September, lowest since Nov 2021, despite high youth joblessness

Property sector still contracting with new housing starts down 23.4% in September, now at lowest level since 2005