China data - May new house prices +0.1% m/m (prior +0.4%)

China's new home prices rose for the fifth straight month in May. Data via Reuters calculations based on National Bureau of Statistics (NBS) data.

• At +0.1% m/m they slowed the pace from the previous month's +0.4%

For the y/y, +0.1%. This is the first y/y rise since April of 2022.

• prior -0.2% in April

Not out of the woods yet though:

• Goldman Sachs warn property weakness likely a multi-year growth drag on China’s economy