Background: China’s economic growth, China Beige Book International (CBB).
- The quarterly survey by China Beige Book International showed that China’s economy rebounded in the second quarter, with capital expenditures recovering from 5-year lows, as higher government spending helped boost the property and construction sectors.
- It also showed better hiring and a strong rebound in the services sector, which if sustainable would point to progress in Beijing’s long-stated goal of rebalancing the economy.
- The Beige Book findings contrast to some degree with official data and some other private surveys which point to some steadying in certain parts of the economy but weakness elsewhere.
- Economists have questioned China’s official statistics for years and increasingly turn to private surveys such as the CBB and measures such as concrete, steel or electricity production to better gauge trends in the world’s second-largest economy.