China Beige Book shows economic rebound
June 29, 2015 Category Macro-economy, Weekly
The China Beige Book based on a survey of over 2,000 firms in different sectors and geographic regions, showed an economic rebound driven by several factors, mainly a welcome resurgence in retail and a broad-based rebound in property. Manufacturing, services, real estate, agriculture and mining all saw both year-on-year and quarterly gains. The only exceptions were shipping and travel, which decelerated. The report also indicated a recovery in prices and profits after months of producer price deflation. The data showed that 45% of respondents saw profit margins gain on-year, and 37% of respondents reported an uptick in sales prices for their products or services. The report said one of the reasons the recovery did not show up in media reports or official statistics is that it was primarily driven by firms in the central and southwestern regions of China, while the developed coastal business centers led by Beijing, Shanghai and Guangdong province posted no or negligible improvement. The labor market also improved, with stable wages, the South China Morning Post reports.
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