China's property investment and sales growth both eased to a three-month lo...
BEIJING - China’s property investment and sales growth both eased to a three-month low in October, suggesting a critical pillar of the economy is softening, but new construction surged in a sign developers are rushing to promote sales.
Property investment is a key growth driver for China. A robust housing market has helped counter a slowdown in the manufacturing sector as a 16-month trade war with the United States slashed profits and investments for factories. The downbeat readings aligned with worse-than-expected factory activity contraction and steepest producer inflation in over three years reported last month.
October's property transactions fell 8% on-year in 25 major tier-two and tier-three cities, data from private research firm CRIC showed.Developers may continue to face pressure on sales as costs for buyers increase amid steadily rising home prices. Some analysts say that reflects developers’ rush to launch more projects in a bid for quicker returns on sales.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China aims to build its own Yellowstone on Tibetan plateauOne of the most densely populated places on the planet wants a national park system. Can China balance conservation and the livelihoods of those who live near proposed park boundaries? Read and watch:
Read more »
The US could be running on gasoline forever, leaving electric vehicles to China and EuropeDiesel-powered cars flopped in the US. At the current rate of growth, electric vehicles could flop here, too.
Read more »
Stocks in cautious ranges ahead of China data, trade talk hopes fadeAsian stocks clung to tight ranges on Thursday as investors awaited key Chinese ...
Read more »
Trump threat of more China tariffs could hit consumer goods before ChristmasU.S. President Donald Trump’s threat to jack up U.S. tariffs on Chinese goods could hit consumer goods before Christmas by andrea_shalal
Read more »