Different groups
The same economy can feel very different
These four temperatures are independent judgments for people in China, not mechanical offsets from the national temperature.
Young people
Early-winter chill · Unemployment among urban 16-to-24-year-olds excluding students has risen to 17.9 percent, leaving young people in cold conditions amid intense entry-level competition and weak income expectations.
White-collar workers
Late-autumn cool · Overall urban employment remains stable, but weak business activity and labor demand limit pay rises, promotions, and job-switching opportunities for white-collar workers.
Small business owners
Early-winter chill · A small-firm PMI of just 47.9, slow retail growth, and weak new orders leave small-business owners under continued pressure from demand, cash flow, and margins.
First-time homebuyers
Early-winter chill · Falling home prices and a five-year-plus loan prime rate of 3.5 percent reduce some nominal costs, but uncertain job and income prospects and a contracting market keep first-time buyers cautious.