China’s new home prices grew in November at their slowest monthly pace since March, official data showed on Monday, as policymakers wary of financial risk in the highly leveraged sector continued to pursue market-cooling measures, reported Reuters.
The data comes ahead of a slew of economic figures due for release on Tuesday, from which market watchers hope to determine the strength of recovery of the world’s second-largest economy as the coronavirus-blighted year nears an end, said Reuters.
The average new home price across 70 major cities rose 0.1% in November from the previous month, Reuters calculated from National Bureau of Statistics (NBS) data. That compared with 0.2% on-month growth in October.
Prices rose 4.0% in November from the same month a year earlier, the weakest rate since February 2016. That compared with a 4.3% on-year increase in October.