HomeReal EstateChinese Economy Receives New Blow From Housing Slump

Chinese Economy Receives New Blow From Housing Slump

Official data from China’s government on Tuesday is expected to show that the nation’s economy is continuing to struggle to launch its economic rebound, with the property market expected to hamper economic growth. While industrial output, retail sales, and fixed-asset investment in July are expected to rise compared to a year ago, real estate investment is expected to decline.

As both property developer and private housing sales are expected to slump, the Chinese government pledged to implement several measures to support economic growth including monetary and fiscal stimulus. Still, the country has not yet instituted the same level of support as shown during previous economic downturns. A weaker yuan and high debt levels are expected to add to economic pressures.

“The economy needs more support. We see the central bank delivering it in the third quarter by freeing up more cash for banks to lend and trimming borrowing costs further,” Bloomberg Economics suggested. Still, China remains on track to achieving the government’s 5% economic growth target for the year.

Warner Bros, Discovery Looking to Split Businesses to Boost Its Stock

Warner Bros. Discovery, the entertainment conglomerate behind cable network HBO, Warner Bros. film and TV studios, and streamer Max, is exploring several options that...

Domino’s Pizza Stock Falls Amid Worse-Than-Expected Sales in Q2

The shares of Domino’s Pizza tumbled 12% on Thursday after the pizza restaurant chain reported worse-than-expected sales in the second quarter and adjusted its...

Ray-Ban’s Owner EssilorLuxottica Acquires Streetwear Brand Supreme in $1.5 Billion Deal

Italian-French corporation EssilorLuxottica, which owns the legendary sunglasses and eyeglasses brand Ray-Ban, has acquired streetwear maker Supreme from VF Corporation in a $1.5 billion...