SHANGHAI – China’s consumption rebound slowed and private business confidence lost momentum in October, according to independent surveys and alternative data that suggested the economic recovery remains bumpy. An indicator of Chinese consumer demand for recreation and transport published by Paris-based QuantCube Technology, along with an independent survey of consumer sentiment by US company Morning Consult, both fell in October from the previous month. A poll of private business sentiment from the Cheung Kong Graduate School of Business (CKGSB) also declined in the month. Those measures – together with official data showing weak service sector growth and falling consumer prices in October – imply the nation’s consumption rebound struggled last month, even as Beijing announced more fiscal stimulus. China’s leaders…
