News > Recession fears haunt Eurozone; China witnesses slump in house sales

Recession fears haunt Eurozone; China witnesses slump in house sales

As inflation, the crisis in Ukraine, and the pandemic took their toll, retailers in Germany, the powerhouse of the European economy, saw the sharpest decline in their year-over-year sales in nearly three decades at the end of the first half of 2022.

In China too home sales of the top 100 developers fell in July, a sign that the growing mortgage boycott issue plaguing the nation has further undermined consumer confidence.