China's Beigi Book: Manufacturing the prime cause of economic weakness in 3Q

Omkar Godbole FXStreet Contributor

China’s economy in the third quarter was the weakest it has been this year and the slowdown was due to a drop in exports and weakness in the manufacturing sector, according to the China Beige Book.

Key points

Manufacturing the prime cause of economic weakness in Q3.
The slowing services sector isn’t able to pick up the slack.
Lending has increased.
Most of the decline was due to "considerably slower sales price growth.

Analysts have warned that China's growth rate risks slipping below the lower-end of Beijing 2019 target of 6% in the third quarter or over the next year.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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