Photo: Matt Mawson / Behance
From CLSA:Last week we visited 14 machinery-related companies in six Chinese cities. Our main takeaway is that Chinese machinery orders are slowing rapidly across a broad range of industries. The weakness in autos and construction machinery started to affect machine-tool demand in August. Any order recovery will, to a large extent, depend on government support, but this could take time as the overall Chinese economy still appears fairly healthy. We lower our growth expectations for China and cut our sector view from Overweight to Market Neutral
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