China Beige Book says China economy dropped significantly in Q4, Q1 recovery unlikely

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China Beige Book says China economy dropped significantly in Q4, Q1 recovery unlikely

<p>China Beige Book International (CBBI) adapts methodology used by the U.S. Federal Reserve's "Beige Book"</p><ul><li>its a quarterly report</li><li>using quantitative & qualitative data to track conditions within the Chinese economy</li></ul><p>--</p><p>The firm's latest China Beige Book shows that China's manufacturing, services, and real estate sectors all experienced significant declines in Q4 2022, citing Covid-19 disruptions.</p><ul><li>CBBI says that its indexes tracking earnings, sales, and employment at manufacturing and service companies declined in Q4 2022 compared to the prior quarter and a year earlier </li></ul><ul><li>Metrics for the real estate market, such as sales and prices, fell almost to record lows</li><li>CBBI said China's GDP probably decreased in real terms in Q4 y/y and was up only 2% for 2022 as a whole. </li></ul><p>CBBI comment:</p><ul><li>"With the ongoing Covid tidal wave, investment sliding to a 10-quarter low, and new orders continuing to get battered, a meaningful first-quarter recovery is increasingly unrealistic"</li></ul>

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: China Beige Book says China economy dropped significantly in Q4, Q1 recovery unlikely

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