Cement output slows in China
China Purchasing Managers’ Index increased to 50.8 in May 2014, up from 50.4 in April. This represents the highest rate of growth thus far in 2014. The figure has been interpreted as a sign that the Chinese economy is stabilising and that momentum is beginning to pick up.
However, the country’s housing market has been cited as a cause for concern by local press as real estate prices and sales begin to weaken amid speculative fears of a property market crash. The housing sector’s performance is likely to have a knock-on effect on the cement industry. In the first four months of 2014, cement output increased by 4.3% y/y to 672 million t, representing a slowdown in growth.
Edited from various sources by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/05062014/fears_of_housing_market_slowdown_in_china_307/
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