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China Beige Book: revenues steady, profits up, new employment down, capex slowing

Results of the China Beige Book survey for Q1 were released on Sunday

Findings:

  • Revenues steadied
  • Profits picked up
  • New employment at private companies fell to a four-year low
  • Capital expenditure is decelerating

More:

  • Hiring picked up at state-owned companies but slowed significantly at private companies
  • Most companies expect further hiring weakness ahead
  • Capex hit a new low in Q1 (Growth in capital spending has seen a 40% cumulative decline over the past two years)

More at Wall Street Journal

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  • The China Beige Book quarterly repor is adapted from methodology used by the U.S. Federal Reserve
  • Includes survey data from over 2,000 Chinese firms & interviews across each of China's regions and sectors & also a separate survey of the country's formal and shadow credit environments

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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