China's property slump worsens, clouding recovery prospects
BEIJING: A slump in China's property sector worsened in August, with deepening falls in new home prices, property investment and sales, despite a recent flurry of support measures, adding pressure to the world's second-largest economy.
New home prices fell at the fastest pace in 10 months in August, down 0.3 per cent month-on-month after a 0.2 per cent decline in July, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Prices were down 0.1 per cent from a year earlier, after a 0.1 per cent decline in July.