China’s property investment and home sales worsened further amid Beijing’s easing efforts to reverse the prolonged real-estate downturn.
Home sales by value fell 1.5% from a year earlier in the January to August period, down from a 0.7% on-year increase recorded in the first seven months, according to data released Friday by the National Bureau of Statistics.
Property investment fell 8.8% on year in the period, wider than the 8.5% decline in the first seven months.
New construction starts tumbled 24.4% in the first eight months, compared with a 24.5% decline in the January to July period.
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