China posts upbeat data, but property sector still sluggish

18th Mar 2024 07:29

(Sharecast News) - China reported upbeat economic data for the first two months of the year, beating expectations, but its troubled real estate sector still showed sluggishness.

Retail sales in January and February rose 5.5%, better than expectations of a 5.2% increase. China combines data for the first two months of the year to smooth out the effects of the Lunar New Year break.

Industrial production climbed 7%, beating forecasts of 5%, while fixed asset investment increased 4.2%, compared with estimates of 3.2%.

The real estate sector remained sluggish, with investment in real estate falling 9% in January-February compared to the same period a year earlier.