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China's Property Sector Remains Biggest Drag on Economy – Bloomberg

by admin
August 25, 2022
in Uncategorized
0

Bloomberg Surveillance: Early Edition with Anna Edwards, Matt Miller & Kailey Leinz live from London, Berlin and New York, bringing insight on global markets and the top business stories of the day.
Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Hear the latest economic, business and market news, as well as global, national, and local news.
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China’s property downturn showed little signs of improvement in the three months through June, with its output contracting for the fourth straight quarter and clouding the growth outlook for the rest of the year. 
Output in the real estate industry, a key economic contributor, contracted 7% in the second quarter from a year ago, the National Bureau of Statistics said in a report Saturday. It remained the biggest drag on the world’s second-largest economy among all sectors, and performed worse than the first quarter of 2022, when it decreased by 2%, the report showed. 

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