China on uneven footing
Published by Joseph Green,
Editor
World Cement,
Reuters are reporting that China's economy was less healthy in Q3 than recent upbeat data has suggested, with growth coming exclusively from manufacturing and property while the services and retail sectors faltered.
Manufacturing posted its fastest expansion nationally, with 53% of companies seeing revenue gains, up 3% from the previous year.
While a government infrastructure building spree and housing boom have given a much needed boost to national cement makers, foreign orders have also improved.
Sectors such as services, transportation and retail showed weakness both quarter-on-quarter and year-on-year, with cash flow and profits deteriorating, leaving the country on uneven footing.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/asia-pacific-rim/28092016/government-infrastructure-building-spree-housing-boom-350/
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