China Economic Blight Endures adding worse to an already war torn economy and global newsline.
Just one hour ago China's PMI index was released and while it was better than expected, the increase showed more signs of deterioration. Contraction is continuing on a monthly basis.
From Reuters Eikon:
The government is due to release third-quarter GDP data on Oct 19 and many economists expect growth to dip below 7 percent, which would be the weakest since the global financial crisis.
Some China watchers believe current growth levels are already much weaker than official data suggest.
A summer stock market crash and China's surprise currency devaluation in August have raised fears of shocks to the economy which could see it slowing more sharply than earlier expected, jeopardising the fragile global recovery.
Since the devaluation, top Chinese officials have repeatedly tried to reassure nervous global investors that they are in control of the economy and denied that it is at risk of a hard landing.