Conference Board Leading Economic Index, China October
The Conference Board Leading Economic Index (LEI) for China increased 1.6% in September
- prior was +1%
Floor space started and total loans issued by financial institutions made the largest positive contributions to the index
- Followed by the consumer expectations index
- PMI new export orders index and the (inverted) PMI supplier delivery index continued to decline in September
The Coincident Economic Index (CEI) fell 1.2% in September
- prior was a 0.7% increase
- Retail sales of consumer goods and electricity production made the largest negative contributions to the index in September
Andrew Polk, resident economist at The Conference Board China Center in Beijing:
- "China's economic situation, as measured by the coincident index, slowed substantially in September, due to very weak consumer demand and a struggling industrial sector"
- "While improving bank credit growth and new housing starts may provide some stabilization to economic growth in the fourth quarter, persistent weaknesses in exports and the manufacturing sector will continue to drag on the economy"
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A lower-tier data point that prompts very little immediate market response
