The headline economic activity data for November is here:
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:
An encouraging point in this data was that:
-
new
home prices in 70 major cities
fell -0.2% m/m- which is the smallest decrease in 17 months
- used homes fell -0.35% m/m
- smallest drop since May 2023
