Key economic activity data for November are here:
More now, focus on the property sector, information via Reuters report:
Property investment in China fell 10.4% in the first eleven months of 2024 from a year earlier
- the decrease was 10.3% in the period between January and October
Real estate sales by floor in January-November fell 14.3% from a year earlier
- It fell 15.8% in January-October
New construction starts measured by floor area are down 23.0% on the year,
- It fell 22.6% in January-October
Money raised by China's real estate developers was down 18.0% from a year earlier
- It fell 19.2% in January-October
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China's property sector continues to weaken:
An interesting point in this data was:
-
new home prices in 70 major cities fell -0.2% m/m
- that is the smallest decrease in 17 months
- Used homes fell -0.35% m/m
- the lowest since May 2023
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