Another China indicator craters

Advertisement

This time hard data too, via Reuters:

China’s car sales fell the most in nearly seven years in September, stoking concerns the world’s biggest auto market could contract for the first time in decades this year amid cooling economic growth and a biting trade war.

Vehicle sales slumped by 11.6 percent to 2.39 million units last month, the third straight decline, the China Association of Automobile Manufacturers (CAAM) said on Oct. 12. It cited a sluggish economy, deleveraging and a tough pollution crackdown as reasons for the steep fall.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.