China Beige Book Shows ‘Disturbing’ Economic Deterioration
- Survey results weaken across the board; profits disturbing
- Successful manufacturing-to-services transition may be on hold
China Beige Book Shows 'Disturbing' Downturn
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China’s economic conditions deteriorated across the board in the fourth quarter, according to a private survey from a New York-based research group that contrasted with recent official indicators that signaled some stabilization in the country’s slowdown.
National sales revenue, volumes, output, prices, profits, hiring, borrowing, and capital expenditure were all weaker than the prior three months, according to the fourth-quarter China Beige Book, published by CBB International. The indicator is modeled on the survey compiled by the Federal Reserve on the U.S. economy, and was first published in 2012.