Business confidence in China has fallen to its lowest point since January 2009 following last month’s stock market rout, South China Morning Post reported, citing new figures from Deutsche Boerse-owned MNI Indicators. The MNI China Business Sentiment gauge of current business conditions dropped to 48.8 points this month from 53.3 in June, the latest indicator suggesting the mainland economy is still feeling the pain from mainland markets’ US$3.9 trillion unwinding. Firms also cut back their output expectations in the short term, with MNI’s future expectations indicator for production slumping to its lowest level since 2009.
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