Caixin
Nov 02, 2018 06:59 PM
ECONOMY

New Economy Index Slips in October

An automated production line is seen in Xuanhua, Hebei province, on Oct. 24. Photo: IC
An automated production line is seen in Xuanhua, Hebei province, on Oct. 24. Photo: IC

High-value-added industries like information technology (IT) and financial services contributed less to China’s overall economy in October as capital inputs decreased, according to a private index released on Friday.

The Mastercard Caixin BBD New Economy Index (NEI) fell to 29.8 in October from September’s 31.3. The reading indicates that “new economy” industries accounted for 29.8% of overall economic input activities. The NEI measures labor, capital and technology inputs in 10 emerging industries relative to those used by all industries.

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