Chinese manufacturers and retailers reported slower growth and said they were more pessimistic in the third quarter, according to the China Beige Book survey, Bloomberg reported. The survey, conducted by US-based CBB International of more than 2,000 Chinese corporate executives and bankers, found that the number of manufacturers reporting revenue growth declined 20 percentage points to 43%. Retailers reporting higher sales fell by 10 percentage points to 58 percent. Outlook for higher growth in the next six months fell by double digits across both segments, with two thirds of retailers expecting higher sales and 53% of manufacturers expecting higher revenue. Overall, 20% of companies reported they cut jobs in the third quarter, an increase of 7%. However, the survey does show an upturn in the property market and stronger growth in inland areas.
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