China Property Drag Is Getting Worse, Factory Output Disappoints
- Industry expansion lost momentum in May as tariff threats loom
- Retail spending picked up but remains weak by past standards
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China’s housing slump deepened in May and triggered new calls for the government to pump cash and credit into the economy, while industrial output — which has kept growth on track — fell short of forecasts.
Among a slew of data published on Monday, analysts latched onto the bad news from the property market, which has been the biggest drag on China’s economic growth. Declines in real estate investment and home prices both gathered pace last month.