China Consumption Unexpectedly Slows in Warning Sign to Economy
China’s retail sales grew at the slowest pace since 2022 while industrial production accelerated, highlighting the unbalanced recovery of the world’s second-largest economy.
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China’s retail sales grew at the slowest pace since 2022 while industrial production accelerated, highlighting the unbalanced recovery of the world’s second-largest economy.
China’s government plans to hold a meeting with key officials on Friday morning to discuss the property market, including a proposal to clear excess housing inventory, according to people with knowledge of the matter.
Country Garden Holdings Co. has begun a major legal battle, squaring off in a Hong Kong court against a creditor seeking the liquidation of the defaulted Chinese developer.
China’s home prices fell at a faster pace in April, underscoring why the government is stepping up efforts to tackle the years-long property crisis.
Shares of Chinese property developers extended a rally as investors expect Beijing to unveil more policy support after a Friday meeting to salvage the beleaguered market.
Jun 1, 2022
The Canadian Press
The Calgary Real Estate Board says sales activity in the western city trended down for the second month in a row in May.
Sales activity in the Calgary real estate market hit an all-time record high in March of this year but has since begun to ease off.
CREB says with 3,071 sales in May, activity was about three per cent higher than last year and far stronger than in a typical May.
CREB says the benchmark price of a home in Calgary was $546,000 in May, more than 14 per cent higher than last year at the same time.
While higher lending rates are beginning to weigh on sales activity, CREB says inventory remains well below historical norms and Calgary's real estate market continues to favour the seller.
However, CREB says if higher interest rates continue to weigh on buyers, Calgary could begin to see more balanced conditions in the market over the next several months.