Another sign of stability in China's economy: China's property prices were deflating at a slower pace for the second month in a row in May.
New home prices in 70 cities fell by an average 5.7 per cent year-on-year last month, based on calculations by Reuters from official data published by China's National Bureau of Statistics. In April , they had also deflated at a record pace of 6.1 per cent. Records go back to 2011.
The index has been deflating for nine months now, year-on-year, but on a monthly basis there are signs of a pick-up: of the 70 cities tracked, 41 recorded falls last month, versus 47 in April.
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