China sees first construction growth in over a year

In a surprising turnaround, property investment in China has followed 15 straight months of decline by growing 3% for the first two months of 2016.

The swing mirrors a surge in new construction, up 13.7% for January and February, compared with a similarly dramatic decline during the same period in 2015.

The surprising recent rise in property investment follows a 1.9% decline in December and is in sharp contrast to industrial production in the country, which fell to its lowest levels since November 2008.

Reports suggest that the commencement of new construction projects may be allied with the recent rally in the price of iron ore.