AND CHINA SHOWS SIGNS OF IMPROVEMENT, PROPERTY SECTOR IS STILL IN DOLDRUMS
Written by Olakunle Oke on March 18, 2024
China’s manufacturing and investment improved in the first two months of the year, while weakness in the property sector weighed on the economy, the National Bureau of Statistics said today.
The report said industrial output rose 7 per cent from a year earlier in January-February, better than analysts had forecast. Spending on factories and equipment, known as fixed-asset investments, rose 4.2 per cent.
The real estate sector remained sluggish, with investment in real estate falling 9 per cent in January-February compared to the same period a year earlier.
The property market is still in a state of adjustment and transition but policies outlined at China’s annual legislative session earlier this month will promote stable and healthy development, National Bureau of Statistics spokesperson Liu Aihua told reporters.
Source: Jordan 105.5fm News Bulletin
READ ALSO:CHINA’S EXPORTS TOP FORECASTS AS GLOBAL DEMAND RETURNS
