Different groups
The same economy can feel very different
These four example temperatures are independent judgments for people in China, not mechanical offsets from the national temperature.
Young people
Severe cold · Intense competition for entry-level jobs is putting significant pressure on career and income expectations.
White-collar workers
Cold · Employment is broadly stable, but opportunities for pay rises, job changes, and promotions remain limited.
Small business owners
Cold · Weak demand and tighter profit margins continue to weigh on small-business confidence.
First-time homebuyers
Cold · Housing corrections have reduced pressure to chase prices, but weak income expectations still constrain buying intentions.