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Leading Economic Index for China Increases in September

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Leading Economic Index for China Increases in September

However, manufacturing remains weak.

The Conference Board Leading Economic Index for China increased 1.6% in September, following a 1.0% increase in August and a 0.9% increase in July.

Floor space started and total loans issued by financial institutions made the largest positive contributions to the index, followed by the consumer expectations index.  The PMI new export orders index and the (inverted) PMI supplier delivery index continued to decline in September.

Persistent weaknesses in exports and the manufacturing sector will continue to drag on the economy."

"China's economic situation, as measured by the coincident index, slowed substantially in September, due to very weak consumer demand and a struggling industrial sector," said Andrew Polk, resident economist at The Conference Board China Center in Beijing.  "While improving bank credit growth and new housing starts may provide some stabilization to economic growth in the fourth quarter, persistent weaknesses in exports and the manufacturing sector will continue to drag on the economy."

The Conference Board Coincident Economic Index for China, which measures current economic activity, decreased 1.2% in September, following a 0.7% increase in August and a 1.0% increase in July. Retail sales of consumer goods and electricity production made the largest negative contributions to the index in September.

 

 

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