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“Property investment led the contraction, plunging -16.2% YoY, compared with a -13.7% YoY slump in the January-April period.”
@KobeissiLetter · The Kobeissi Letter
China property investment plunging -16.2% YoY and accelerating, directly gutting transaction volumes for KE Holdings, China's dominant real estate brokerage platform
BEKESHORT@ $15.04
$17.25-14.75%
since call Jun 19
“China's retail sales fell -0.6% YoY in May, the largest monthly drop since the economy reopened after the pandemic in late 2022.”
@KobeissiLetter · The Kobeissi Letter
China retail sales turned negative for first time since post-COVID, crushing consumer demand and Alibaba's core revenue base
BABASHORT@ $106.58
$124.01-16.35%
since call Jun 19
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