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Property Investment in China in October at 3 Month Low

Infra News - Published on Mon, 18 Nov 2019

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According to National Bureau of Statistics data, 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. Real estate investment in October grew 8.8% from a year earlier, the slowest pace since July, down from September’s 10.5% expansion. For January-October, property investment rose 10.3% from a year earlier, versus a 9.7% gain in the same period last year and 10.5% in the first nine months.

Property sales by floor area, a key barometer of demand, rose 1.9% on year in October, also the slowest since July and lower than September’s 2.9% growth. That compared with a 3.1% sales drop seen in October last year. For the 10-month period, sales increased 0.1% on an annual basis, recovering marginally from a 0.1% drop in the first nine months.

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Posted By : Rabi Wangkhem on Mon, 18 Nov 2019
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