The headline economic activity data for November is here:
China November: Retail sales +3.0% y/y (exp +4.6%) Industrial output +5.4% y/y (exp +5.3%)
More now, focus on the property sector, info via Reuters reporting:
Property investment in China
fell 10.4% in the first eleven months of 2024 from a year
earlier
the fall was 10.3% in the January – October period
Property sales by floor area in January-November fell 14.3%
from a year earlier
15.8% drop in January-October
New construction starts measured by floor area declined
23.0% on year,
22.6% drop in January-October
Funds raised by China’s property developers were down 18.0%
from a year earlier
19.2% fall in January-October
**
China’s property sector is still languishing:
China House Prices in November -5.7% y/y (prior -5.9%)
An encouraging point in this data was that:
new
home prices in 70 major cities
fell -0.2% m/mwhich is the smallest decrease in 17 months used homes fell -0.35% m/msmallest drop since May 2023
This article was written by Eamonn Sheridan at www.forexlive.com.
