China's economic recovery lost steam in September - Bloomberg

China's economic rebound from the coronavirus crash showed signs of losing steam in early September due to worsening business confidence, a weaker stock market, according to Bloomberg. 

Key points

An index comprising eight indicators tracked by Bloomberg has slipped into contraction this month, compared to accelerated expansion in August.

New home sales slowed in the first three weeks of September reversing August's rise. 

Small-business confidence eased marginally after rising for six straight months.

State-owned enterprises' (SME) new orders slowed in September, and the pace of expansion of banks' credit to SMEs also eased. 

The picture would become clearer with the release of the September NBS and Caixin Manufacturing PMI indices later this week.