China Underground > China News > China economy growing, but at only half of official estimates – SMI survey

China economy growing, but at only half of official estimates – SMI survey

BEIJING (Reuters) – A survey of Chinese sales managers indicates that the economy is growing but at only about half the rate of official estimates, a private survey showed on Tuesday.

China’s economy has bottomed out and continues to grow at a low but stable pace, but a major pickup in growth is unlikely this year, according to the latest China Sales Manager Index (SMI) published by World Economics on Tuesday. The SMI rose only slightly to 51.7 in July from 51.6 in June, but was a high for 2016. As with purchasing manager indexes, readings above 50 indicate an expansion on a monthly basis, while readings below signal contraction.
July activity is slightly above the average of the last six months, World Economics said, with the consumer services sector performing better than manufacturing and heavy industry.
China on Friday reported second-quarter growth of 6.7 percent year-on-year, slightly stronger than expected and in line with the pace of expansion in the first quarter, adding to views that the economy is steadying. But official data also showed continued weakness in exports and a further slowing in investment which suggests a loss of momentum in coming months. The SMI release did not provide any other figures apart from the headline index

(Reporting by Elias Glenn; Editing by Kim Coghill)

About Post Author


Subscribe to China Underground and get the free magazine 'Planet China'

* indicates required

View previous campaigns.

By clicking Sign Up, you agree to our terms and conditions.

You can unsubscribe at any time by clicking the link in the footer of our emails.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.


Taiwan bus burst into flames, killing 26, including 24 tourists from China

U.S. warns at WTO of China backsliding on economic openness


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this:
Enable Notifications OK No thanks