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China's economy shows signs of slowing growth in September: Bloomberg

CHINA's economy showed signs of slowing growth in September according to the Bloomberg Economics gauge that aggregates the 'earliest-available indicators on business conditions and market sentiment'

China's economy shows signs of slowing growth in September: Bloomberg
02 October 2018 - 19:00
CHINA's economy showed signs of slowing growth in September according to the Bloomberg Economics gauge that aggregates the 'earliest-available indicators on business conditions and market sentiment'.

'The early indicators point to further weakness in the Chinese economy even before the latest round of the US tariffs took effect,' said Bloomberg chief Asia economist Chang Shu. 'The government measures to support growth have not yet had visible effects so far.'



External demand conditions continued to deteriorate. Flash PMI readings of China's major trading partners including the US, the European Union and Japan declined for the fifth straight month, bringing the measure to its lowest in more than a year while such readings in many major trading partners remain firmly in positive territory.



Chinese companies are not feeling optimistic, according to London research house World Economics, based on a survey of Chinese sales managers whose mood fell to its lowest level in two years.



'September data reveals: slowing sales, higher prices, falling jobs market and growing unease that the situation will not improve over the coming months,' said World Economics CEO Ed Jones.



'The service sector is continuing to keep the economy buoyant with consumer-based sales growth outperforming manufacturing sales,' he said.



'Manufacturing continues to be lacklustre with managers reporting that the current weakness of the yuan and the developing trade war with the United States is hurting their performance,' Mr Jones said.

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