Due at 0130 GMT today are home price data from China for April:
This snapshot from the ForexLive economic data calendar, access it here.
- The time in the left-most column is GMT.
- The numbers in the right-most column are the 'prior' (previous month) result.
A couple of snippets from analysts about the place on China's property sector slowdown. Not a bright picture.
- The 25-year property boom has run out of steam as urbanisation has slowed to a crawl and the population of young homebuyers has gone into decline. Exports lifted China to becoming the world’s major goods exporter but, outside the extraordinary circumstances of a pandemic, they can’t lift it any higher. Credit-fuelled investment has given China world-beating infrastructure, but increasingly is contributing to financial overhangs that threaten the stability of its banking sector,
Clocktower Group (a US based economics consultancy) says China’s housing market is now in a worse situation than during the 2008 global financial crisis. Year-on-year growth of property sales has hit a 15-year low, despite multiple easing measures implemented by local governments in recent months.