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China's Property Investment Growth in August 2019

Infra News - Published on Wed, 18 Sep 2019

Image Source: reuters
Reuters reported that China’s property investment grew at its fastest pace in four months in August, a boon for the economy as other sectors weaken from the Sino-US trade war and consumer demand slows. Sales growth accelerated to the highest in more than a year but a surge in demand could be concerning for policymakers who want to reduce high household debt and manage potentital bubble risk. Property investment is a significant contributor to growth in the world’s second-largest economy. A robust real estate industry has helped China counter a broader slowdown in its economy from a protracted trade war with the United States.

National Bureau of Statistics data said taht property investment in August rose 10.5% from year earlier, quickening from July’s 8.5% pace, marking the fastest growth since April. For January-August, property investment also grew 10.5% on year, versus a 10.1% gain in the same period last year and 10.6% in the first seven months.

The stronger August investment and sales readings come amid a prolonged contraction in factory activity and a sharper fall in producer prices for the month, which have fuelled worries that a global recession may be around the corner as growth in China loses steam.

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Posted By : Ratan Singh on Wed, 18 Sep 2019
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