After a temporary stabilisation in the past three months, macroeconomic expectations for China have suffered yet another setback, according to the results of the China Economic Panel (CEP). The CEP Indicator, which reflects the assessments of international financial analysts regarding China’s macroeconomic outlook over the next twelve months, has deteriorated by 17.1 points in the current survey period (September 15 to September 30, 2014). Now standing at a level of 1.7 points, the index has dropped below its long-term average of 14.9 points. Moving close to the base line, the indicator is signalling that optimistic and pessimistic experts assessments within the sample are now alsmost balanced. The current value is the lowest of the CEP Indicator since the survey began in mid-2013.