- In contrast to data showing that China's economy is picking up, the country's unofficial "Beige Book" shows that it is slowing down.
- Growth in manufacturing softened, the private survey said, as opposed to government figures that indicate that factory output accelerated in July and August
- The Beige Book also revealed "weakening gains in profits, revenues, wages, employment and prices."
- Meanwhile, Marc Faber, the author of the "Gloom, Boom & Doom Report," has argued that China's economy is growing at annual rate of 4%, well below the government's growth target of 7.5%.
- To back up his case, Faber pointed to trade data from the country's neighbors as a way of assessing Chinese demand.
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China's "Beige Book" indicates that slowdown continues
Sep 25 2013, 02:25 ET