Word: falloff
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...been missing out on reaching much of its audience due to a lack of digital availability. Harvard School of Education Professor Daniel M. Koretz, who recently published a book with HUP about standardized testing, said that he has experienced decreased sales of his book, but attributed the falloff to lower demand for books in general. “What has happened to book sales in the past few months is independent of Harvard University Press,” he said. “Nobody is sure what kind of business models will work for selling digital books...
...offset another weakening pillar of China's economy: real estate. Rampant construction of new office towers and apartment blocks in recent years was a huge boon to growth. But government action to cool down the market, by, for example, restricting credit for property development, is resulting in a sharp falloff in construction. After 35% growth in real estate investment in the first half of the year, Wang estimates that growth dropped sharply to some 20% in July and August. The property sector accounts for about a quarter of all fixed-asset investment in China and about 10% of national employment...
...part to a falloff in demand from the ailing U.S., China's export growth is slowing sharply. Manufacturing contracted in July for the first time since at least 2005, according to China's Purchasing Managers' Index, resulting in reduced hiring by the sector. Meanwhile, a 50% drop in China's stock markets from their peak last October is creating a reverse wealth effect, some economists believe, leading both consumers and companies to be more cautious about their outlays. Tao Wang, an economist with Bank of America in Beijing, says China's GDP growth will slow to 10% this year, down...
...housing bust has been, the falloff in sales has been cushioned by foreign buyers in such places as New York City and Florida. Anne Marie Moriarty, a vice president of Corcoran realtors, says residential real estate sales to foreigners have doubled in the past 15 months. The uptick in foreign interest helps explain why New York City real estate prices are up 11% over last year in an otherwise tanking marketplace. "It's bucking the trend," says Moriarty of the Manhattan market. Foreigners "see it as a long-term investment. Part of it for them is owning a piece...
...gain. But counting on further rapid appreciation is foolish. The average home price declined in a fourth of U.S. cities in the second quarter of this year, the most recent period for which data are available. Overall, home values still rose, but the rate of growth registered its largest falloff on record...