Investment in real estate development rose 3.5 percent in the first eight months of the year, down 0.8 percentage point from the January to July period. That reading was less than a tenth of the pace during the same period five years earlier.
"Weighted by the pressure of property destocking and weak land sales, real estate developers lack willingness to invest," Wang Baobin, senior statistician at NBS, wrote in a statement.
Electricity output rose 1 percent from a year earlier in August, suggesting that factories aren’t seeing activity pick up.
The finance ministry recently called for stronger fiscal policy to counter the sluggishness. In addition, the central bank has cut interest rates five times since November and lowered required reserves banks need to set aside.
Investment in real estate development rose 3.5 percent in the first eight months of the year, down 0.8 percentage point from the January to July period. That reading was less than a tenth of the pace during the same period five years earlier."Weighted by the pressure of property destocking and weak land sales, real estate developers lack willingness to invest," Wang Baobin, senior statistician at NBS, wrote in a statement.Electricity output rose 1 percent from a year earlier in August, suggesting that factories aren’t seeing activity pick up.The finance ministry recently called for stronger fiscal policy to counter the sluggishness. In addition, the central bank has cut interest rates five times since November and lowered required reserves banks need to set aside.
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