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.
May 4, 2021
BNN Bloomberg
,Runaway home-price growth in Canada's largest housing market stalled last month amid signs prospective homebuyers could be tapped out.
There were 13,663 property sales across the Greater Toronto Area in April, according to data released Wednesday by the Toronto Regional Real Estate Board (TRREB). While that represents a 362 per cent surge compared to a year earlier, when activity was decimated at the onset of the pandemic, it was a sequential drop of almost 13 per cent compared to sales logged in March.
It was a similar story for the average selling price in April, which surged 33 per cent year-over-year to $1,090,992 -- marking a modest downturn from the record that was set in March.
"It makes sense that we had a pullback in market activity compared to March. We’ve experienced a torrid pace of home sales since the summer of 2020 while seeing little in the way of population growth. We may be starting to exhaust the pool of potential buyers within the existing GTA population. Over the long term, sustained growth in sales requires sustained growth in population,” said TRREB President Lisa Patel in a release.
Across the four major home categories tracked by TRREB, only condos and semi-detached properties bucked the price trend by posting region-wide sequential price growth. Meanwhile, the average price of a coveted detached home in the City of Toronto slipped almost three per cent to $1,699,756.