China Property Investment Drop Deepens as Beijing Vows Help
- Investment in the sector’s development fell 7.9% in Jan.-June
- Goldman economists foresee potential for additional easing
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China’s property investment contracted at a steeper pace in the first half of the year, underlining the sector’s deepening downturn as policymakers pledge more support.
Investment in property development fell 7.9% in the first six months of 2023, compared with a 7.2% decline in January-May, data published Monday by the National Bureau of Statistics showed. Economists surveyed by Bloomberg had forecast a drop of 7.5%.