Average Home Price in 100 Cities up 0.33% MoM in July

Source: Soufun, ChinaScope Financial (Data)

+     According to data published by the China Index Academy on August 1, the average price of new homes in 100 cities increased for a second month to CNY 8,717 per square meter in July, up 0.33% month-on-month. Among the 100 cities, 70 cities reported month-on-month price increases, with the remaining recording monthly price declines.

+     In July, the average home price in ten major cities was CNY 15,470 per square meter, up 0.27% month-on-month but down 2.32% year-on-year. The price has declined year-on-year for seven consecutive months, but at a progressively slower rate.

Some previously offered discounts to home buyers were withdrawn in June, resulting in the increase of average sales prices in 100 cities. Looser monetary environment is putting additional upward pressure on housing prices.

The average sales price rose month-on-month in 70 out of the 100 cities in July.

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China July Manufacturing PMI Declines to 50.1%

Source: National Bureau of Statistics, ChinaScope Financial (Data)

+     According to data released by the China Federation of Logistics and Purchasing (CFLP) and the National Bureau of Statistics (NBS) on August 1, China’s manufacturing PMI decreased to 50.1% in July, down from 50.2% in June, falling to the lowest level since November 2011.

+     Sub-indices declined month-on-month, with the exception of the raw materials inventory index. Production index dropped 0.2 percentage points to 51.8%, hitting the lowest value since December 2011 and indicating slower production growth in the manufacturing industry.

Weak internal and external demand depressed PMI for a second consecutive month, forcing it to its lowest level since November 2011.

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