Slowing down on the home front

2 November 2015 By Katrina Hamlin Follow @KatrinaHamlin

The old growth engines are running out of steam. Rail freight and steel production dropped in September, while investments in new property fell for a second consecutive month, a first in our data set. As China readies its new Five-Year Plan it’s a reminder times have changed.

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The Breakingviews Tea Leaf Index, an alternative measure of China’s economic activity, fell to 112 in September, the lowest reading since June 2013.

Investment in new property development dropped 2.41 percent from a year earlier. The figure had fallen by 1.31 percent in August, making this the first consecutive monthly fall in the Tea Leaf Index data set, which stretches back to January 2008. Steel production was down by 3.03 percent from a year earlier. Rail freight volumes were down 15.51 percent.

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