China Pulls Back Government Spending by Most in Over Four Years [Yahoo! Finance]
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Source: Yahoo! Finance
(Bloomberg) -- China's broad fiscal spending slumped in October by the most since at least 2021, crippling a key driver of investment and economic growth. Most Read from Bloomberg What It Takes to Defeat the Leaf Blowers Bots, Billionaires Behind Gen Z March in Mexico, Sheinbaum Says Finnish-Style Baby Boxes Get a New York Twist Senator Calls for Evacuation of ICE Site After Contract Lapse Brussels' Pedestrian Zone Is So Crowded It's Restricting Bikes The combined expenditure in China's two main budgets — the general public account and the government-managed fund book — tumbled 19% in October from a year earlier to 2.37 trillion yuan ($334 billion), according to Bloomberg calculations based on data released by the Ministry of Finance on Monday. It was the steepest slide since comparable data started in early 2021, while the value of money spent was the least since July 2023. The plunge reflects an evolution of government policies and underlines waning fiscal support
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