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China leading index rises 1% in Aug

By Religare
|

A leading index for China climbed at a faster pace in August, easing worries over a slowdown in the world's second biggest economy, reducing pressure on policymakers to bolster fresh stimulus.

The Conference Board said that its China leading indicator climbed 1 per cent in August from July when it climbed 0.9 per cent.

The gains in the leading index were driven mainly by improved credit growth and strength in the housing sector.

 

"The August gain in the LEI for China stemmed primarily from bank loans and better performance in housing starts. However, compared to a year ago, housing starts remain deeply entrenched in contractionary territory, suggesting no real improvement in the property market. In addition, the LEI's six-month growth rate has decelerated, pointing to weakening economic conditions in the months ahead", the report by Conference Board said.

The latest data comes as a small relief for China and contrasts to other recent indicators which pointed to a worsening slowdown in the country's economy. China's business sentiment plunged in September, factory growth and new lending cooled in August, and urban fixed asset investment expanded at the slowest pace since 2000 in the first eight months of the year.

Story first published: Tuesday, September 22, 2015, 23:00 [IST]
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