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No China hard landing - Goldman Sachs' O'Neill

Monday, October 01, 2012 - 01:48

Oct. 1 - The slowdown in China growth is here to stay, posing challenges for previously strong sectors but there'll be no hard landing says Goldman Sachs Asset Management Chairman Jim O'Neill.

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Little relief for Chinese manufacturers. Official manufacturing PMI figures for September clocked in at 49 point eight. In line with forecast. This marks the second straight month of contraction. China's smaller private firms aren't doing any better they just thinking manufacturing PMI shrank for the eleventh consecutive month in September. Annually economic growth is expected to slow in the third quarter of this here to seven point 4%. That's according to a Reuters poll that the growth figure we should be used it. Jim O'Neill of Goldman Sachs. We're shifting from. An area which is offensively advance first he is gonna -- those whose growth has -- senator Coughlin. So when their -- it's going to be for this decade more like seven songs that since the vote was so strong in the past. -- But the good quote if you adjustment challenges. Some economists say recent easing measures should help from the fourth quarter on way. The latest move a 57 billion dollar cash injection in the many markets. China has also been trying to kick start that sport and it. Recently announcing moves to speed up payment of export tax rebates and boost lending a policy makers have to walk a fine line. Chinese policy makers do in all walks of repeats. What they did in 09 and stimulate the economy too much it's not clear that the moments in this thing yes vote on finish you'll. That it well. Tune -- to a true of a lot of things -- -- -- given you ongoing weakness in key export markets like Europe manufacturers aren't likely to be cheering anytime soon. We here -- Thomas writers.

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No China hard landing - Goldman Sachs' O'Neill

Monday, October 01, 2012 - 01:48