Lan Shen, Economist at Standard Chartered, suggests that their China SME survey shows a moderation in SME activity in July on deteriorating credit conditions. Key Quotes “The headline SMEI (Bloomberg: SCCNSMEI ) edged down to 55.7 from 56.0 in June as the growth momentum index weakened to 8.9 from 10.7.” “Growth was largely dragged down by the ‘credit’ sub-index, which slid 1.3ppt to a record low of 50.4, while the ‘current performance’ and ‘expectation’ sub-indices were steady.” “Manufacturing SMEs outperformed services SMEs, while export-oriented SMEs appear to have avoided a fallout from US-China trade disputes for now.” “Real activity showed signs of stagnation in July as sales continued to moderate and production activity expanded at a slower pace.” “Self-imposed policy tightening likely led to a gradual cooling down of domestic demand, while exports performed fairly well.” “Going forward, the government’s pledge to support domestic demand could help curb downside risks, and decent corporate profitability and the restocking process should underpin production activity.” “SMEs’ financing conditions have worsened, with credit access becoming more difficult and funding costs being high. This adds to the case for more targeted easing, in our view.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD parked around 1.1690/1.1700 ahead of US data FX Street 5 years Lan Shen, Economist at Standard Chartered, suggests that their China SME survey shows a moderation in SME activity in July on deteriorating credit conditions. Key Quotes "The headline SMEI (Bloomberg: SCCNSMEI ) edged down to 55.7 from 56.0 in June as the growth momentum index weakened to 8.9 from 10.7." "Growth was largely dragged down by the 'credit' sub-index, which slid 1.3ppt to a record low of 50.4, while the 'current performance' and 'expectation' sub-indices were steady." "Manufacturing SMEs outperformed services SMEs, while export-oriented SMEs appear to have avoided a fallout from US-China trade disputes for now." "Real activity showed… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.