China’s economy stabilized in the fourth quarter as the services sector strengthened and manufacturing sector picked up a bit of steam, according to the China Beige Book released on Thursday.
“While the rebound is certainly not an impressive one, sales, profits, and employment have all improved a bit,” said Leland Miller, president at the U.S. based China Beige Book (CBB) International. “Conventional analysis will likely catch up with this development by early 2015,” he said.
The quarterly survey painted a more upbeat picture of the world’s no.2 economy compared with the latest economic indicators, which suggest weakening growth momentum.
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