Growth in home prices in China slowed in February, according to data published by the National Bureau of Statistics on Tuesday. Prices rose in 57 of the 70 cities tracked by the government, down from 62 in January.
Prices in Beijing and Shenzhen rose 0.2 percent in February, the slowest pace since October 2012. Prices rose 0.4 percent in Shanghai, the smallest increase since November 2012.
Compared to a year earlier, calculations by Reuters show that average new home prices in China's 70 major cities rose 8.7 percent in February, slowing from the 9.6 percent rise in January.
In the US, housing took a small step in recovering from its own downturn during the winter in February. Housing starts fell 0.2 percent in February, the third consecutive decline. Encouragingly, however, building permits jumped 7.7 percent, indicating a likely recovery in construction soon.
Meanwhile, US inflation remained muted in February. Consumer prices rose 0.1 percent last month, pushing the 12-month increase down to 1.1 percent, the smallest since October.
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