Global financial markets are braced for more evidence of the slowdown in China’s economy today as it reports second-quarter economic data, with growth expected to be at its lowest in three years.
However, away from the glare of the headline numbers, several lesser-noticed so-called leading indicators suggest that the world’s second-biggest economy – and the best hope for staving off a global recession as Europe and the US struggle – is weakening but is far from collapsing.
Moreover, analysts say that a shift to much more stimulative policy during the past month is priming the pump for a Chinese recovery later this year from what is widely expected to have been about 7.5 per cent growth in the second quarter.
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