CH New Home Prices m/m

China's retail sales growth fell to -0.6% year-on-year in May, down from 0.2% in April. The data was in line with our forecasts, but weaker than market consensus (market -0.2%, ING -0.6%). It’s the lowest level since pandemic-skewed 2022. We continued to observe the impact of the trade-in policy on related categories, which dragged down overall consumption. Beneficiary categories such as household appliances (-15.6%), autos (-16.1%), and furniture (-8.7%) saw outsized drops on the month. We’re now seeing the flip side of frontloading ...

China’s new home prices fell again in August, extending a prolonged slump in prices as persistently weak demand in the pivotal housing sector remains a drag on economic growth. Prices slipped 0.3% in August from the previous month, according to Reuters calculation based on data released by the National Bureau of Statistics. The figure matched July’s month-on-month decline and extended a weak trend that has persisted since May 2023. On an annual basis, new home prices dropped 2.5% in August, narrowing from a 2.8% decline in July. ...

China's 70-city property prices for April continued to slide overall, with new home prices down -0.12% month-on-month and existing home prices down -0.41% MoM, both seeing slightly steeper declines than the pace in March. Establishing a trough on a national level is taking some time, as the recovery of the property market remains uneven and gradual. It's possible that tariff-related pessimism and uncertainty kept more buyers on the sidelines in April. As the headline number suggests, April's city-level breakdown also softened a bit ...

The US threat of aluminum and steel tariffs and reciprocal tariffs initially shook the markets, but the implementation at some future date gives the impression that the threats are negotiating ploys helped take away the sting. In his first term, Trump converted some of the tariffs to quotas, and that one scenario for the likely outcome now. Still there is great uncertainty of the US intent and strategy. For its part, the greenback finished last week lower against all the G10 currencies but the Japanese yen. It is not coincidental ...

China’s “data dump” delivered mixed news for industrial metals. Home prices stabilized, industrial output breezed past expectations, but the downturn in the property market—a key source of commodity demand—showed a slight acceleration. New home prices eased just 0.08%, marking the smallest monthly decline in 18 months. Falls in existing home prices also slowed to 0.31%, according to Bloomberg calculations. Industrial output was the standout, growing 6.2% over the year versus forecasts for 5.4%. Within that, crude steel output surged ...

China’s home-price declines eased for a third month in November, suggesting values are beginning to stabilize as policymakers step up efforts to end the property slump. New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.2% from October, the smallest decrease in 17 months, National Bureau of Statistics figures showed Monday. Values of used homes fell 0.35%, the least since May 2023. China’s housing downturn has weighed on Asia’s largest economy for more than three years. The figures offer a glimmer of hope for ...