Slower growth in China's building materials sector

GMT 17:22 2014 Sunday ,02 November

Arab Today, arab today Slower growth in China's building materials sector

China's building materials sector continues to slow
Beijing - XINHUA

China's building materials sector continued to expand at a slower pace with the property market remaining sluggish, latest statistics from the country's top economic planner indicated.
Cement output rose 3 percent year on year to 1.82 billion tonnes in the first three quarters, the National Development and Reform Commission (NDRC) said on its website.
Output of flat glass rose 3.8 percent, down 7.5 percentage points from a year earlier.
However, prices of the building materials recovered slightly. Compared with a month earlier, the factory price of cement edged up 0.5 percent, and flat glass gained 2.9 percent in September.
The data comes as the property sector, a major consumer of cement and flat glass, continues weaker-than-expected growth despite easing government restrictions on the market.
New home prices in 69 of 70 sampled cities posted month-on-month drops in September, compared to 68 in August. The only exception is the city of Xiamen, where home price remained flat.

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