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Report: China's business sentiment improved to a six-month high
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China’s business sentiment improved to a six-moth high in August partially due to a speeding up of approvals for projects by the government, a private report said.
The monthly MNI China Business Indicator rose to 58 in August from 53.4 in July, the first gain in three months, Market News International, a unit of Deutsche Boerse Group, said in a report today.
The government’s recent measures to fine tune growth possibly fed through to sentiment this month.
“We saw some green shoots in the July data and these have been built on in August with a fifth consecutive monthly rise in new orders and a pick-up in overall confidence, possibly as a result of the government’s recent fine tuning measures,” Philip Uglow, MNI Indicators chief economist said in the report.
Sub-index of new orders rose to the highest since January 2012.
Production, however, fell in August to the lowest level since March, while productive capacity hit the lowest on record. The employment indicator fell in August and has now been below the 50 breakeven level for five months.
Input prices rose sharply in August while prices charged by companies fell to the lowest since September 2012 as the price squeeze which hit companies last year returned to the fore.
Credit availability fell to the lowest level since October 2011, following moves to rein in the shadow banking sector.
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