China's "Beige Book" indicates that slowdown continues

|By:, SA News Editor

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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