China Beige Book Shows Economy May Be Losing Steam
- Survey shows strikingly consistent performances across regions
- CBB says hiring stopped accelerating, but employment ‘is fine’
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The world’s second-largest economy held up in the first quarter, with "strikingly consistent" performances across regions, but may be losing steam, according to the China Beige Book.
Manufacturing and services led with strong sales while there was some slowing in property and commodities, two engines of the old economy most at risk of overheating, CBB president Leland Miller and chief economist Derek Scissors said in a report.