The China Beige book is adapted from methodology used by the U.S. Federal Reserve's Beige Book.
- It "uses both quantitative and qualitative data to track real-time conditions within the Chinese economy, both regionally as well as within each of eight key industries within each region."
- It surveys more than 2000 firms
From the latest report, via Reuters:
"... a welcome resurgence in retail - which saw rising revenue growth despite a slip in prices - and a broad-based rebound in property," report authors Leland Miller and Craig Charney wrote, adding that manufacturing, services, real estate, agriculture and mining all saw both year-on-year and quarterly gains
- Shipping and travel decelerated
- 45 percent of respondents saw profit margins gain on-year
- 37 percent of respondents reported an uptick in sales prices for their products or services
"The rate of climb is still slower than a year ago, but this at least represents a break from the seemingly impossible tide of price deterioration."
- Labour market also improved, with stable wages
Still signs of concern, in particular the weak recovery in capital expenditures:
"This is not 'China is bouncing back and its problem is ended,'" said China Beige Book president Leland Miller. "On the other hand what you are seeing in this data is exactly what you want to see in terms of signs of recovery"