CHINA's growth slowed for a seventh month in December as
the trade war, slower domestic demand and weakening factory output hit the
economy, according to the Bloomberg
Economics gauge that weighs early indicators.
Data also suggests the government's
stimulus approach and the trade war truce with the US have yet to effect on
China's more settled economic statistics, but early returns show slower growth,
said David
Qu, economist at Bloomberg Economics.
"Recent fluctuation in the
commodity market may further undermine manufacturing sector
profitability," and we will be looking closely at what the government does
to stabilise the economy in early 2019, he said.
Business confidence among small and
medium-sized enterprises, says a Standard Chartered index was unchanged at 54.7 in December, but
the outlook was bleak as downward pressures continue to mount, according to Shen
Lan, the Beijing-based economist in charge of the bank's survey.
"Export demand weakened while
domestic demand remained sluggish for SMEs in December," she said in a
December 24 report. The acceleration in production was driven mainly by the
non-manufacturing and hi-tech industries, while manufacturing slowed further.
"Credit conditions generally
improved in the fourth quarter, although they did not show further improvement
in December," Ms Shen said.
Source : HKSG.
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