Due at 0130GMT, China August property prices
- In July prices were up 0.3% m/m, down 3.7% y/y
There have been some mutterings that the property market is showing sings of recovery.
A UBS research note from earlier this month, for example:
- Although there remains downward risk to our 2015 growth forecast of 6.8%, we think that China's recent property sales revival and intensified government policy support have lowered risks of a sharp hard economic landing this year.
'Property sales revival'. Hmmm. Given the falls in the stock market it wouldn't be surprising if cash found its way back into property investment. Whether that's a positive or not I'll leave for others to decide. But, we'll get an indication today.
I posted earlier on the China views of RBA board member Edwards.