Economics
Earliest Chinese Data Signal Slowdown Hasn't Bottomed Out Yet
- Newly-resurrected Minxin manufacturing gauge suggests weakness
- Confidence of businesses and sales managers slumps in February
Buildings stand illuminated in Hong Kong,
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The first indicators for China’s economy this month signal its slowdown hasn’t bottomed out yet, highlighting the case for continued stimulus as the nation prepares to host finance chiefs and central bankers from the Group of 20 later this week.
Private gauges of manufacturing and services fell to new lows, a reading of business confidence slipped, and interest in small and medium sized businesses deteriorated, the readings show. If confirmed in official data for February that starts to roll out from March 1, such weakness would suggest a slowdown in the nation’s old growth drivers may be deepening.