China’s New Economy Index Hits 6-Month High

The contribution of high-value-added industries like information technology (IT) and financial services to China’s overall economy hit a six-month high in September, according to a private index released on Tuesday.

The Mastercard Caixin BBD New Economy Index (NEI) rose to 31.3 in September from 29.1 in the previous month, as capital inputs increased. This reading indicates that “new economy” industries accounted for 31.3% of overall economic input activities in September. The index measures labor, capital and technology inputs in 10 emerging industries relative to those used by all industries.