According to a Bloomberg Economics gauge, early indicators, China’s economy is likely to have slowed its pace of expansion for a fourth straight month in August, underscoring concern for the Chinese authorities to step up pro-growth policies.
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The data suggest the economy weakened further as demand from trading partners lost steam, with the decline in stock prices reflecting worsening sentiment.
Bloomberg Chief Asia economist Chang Shu noted: “It will take at least a few months for the economy to hit bottom and start recovering. It’s like a big ship — it will take a bit of time to shift its course.”
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