China Real-Estate Slump Threatens Li’s Economic Rebound
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China’s property industry extended its slump last month as sales and construction dropped and investment growth slowed, threatening to drag on a recovery in the world’s second-biggest economy.
Home sales in the January-to-May period fell 9.2 percent from a year earlier by area, after an 8.6 percent decline in the first four months, National Bureau of Statistics data showed yesterday. New property construction dropped 18.6 percent this year through May and residential housing starts fell 21.6 percent by area.