China Activity Monitor Positive signs in November Our China Activity Proxy (CAP) suggests that growth picked up last month. That’s a challenge to our expectations of a slowdown in growth in 2020. But the resilience of property construction still... 20th December 2019 · 3 mins read
China Activity Monitor Domestic headwinds sapping momentum Our China Activity Proxy (CAP) suggests that the economy decelerated last month to its weakest pace of growth since May. Recent headwinds are domestic in origin, reflected in slower movements of... 26th November 2019 · 3 mins read
China Activity Monitor Uptick in industry nudges up growth Our China Activity Proxy (CAP) suggests that growth edged up at the end of last quarter due to a rebound in industrial activity. But the prop from industry should be short-lived, and with the recent... 24th October 2019 · 3 mins read
China Activity Monitor Growth edges down as property construction levels off Our China Activity Proxy (CAP) suggests that growth remains resilient but has edged down slightly since the end of Q2. With property construction no longer accelerating and broader activity still... 23rd September 2019 · 3 mins read
China Activity Monitor Recent strength unlikely to last Our China Activity Proxy (CAP) suggests that growth remained strong at the start of Q3. However, with external headwinds mounting and property development likely to moderate, economic activity looks... 21st August 2019 · 3 mins read
China Activity Monitor A strong end to Q2 Our China Activity Proxy (CAP) suggests that growth jumped at the end of last quarter. But data issues raise questions about the true extent of the pick-up. And mounting domestic and external... 24th July 2019 · 3 mins read
China Activity Monitor Growth holding up surprisingly well Our China Activity Proxy (CAP) continues to suggest that economic growth has stabilised in recent months, with stronger construction activity helping to mask a slowdown in other sectors. But with... 26th June 2019 · 3 mins read
China Activity Monitor Prop from construction prevents further slowdown Our China Activity Proxy (CAP) suggests that, while a further acceleration in construction activity prevented growth from edging down in April, momentum in the rest of the economy softened last month. 24th May 2019 · 1 min read
China Activity Monitor Growth edges lower but short-run trough is near Our China Activity Proxy (CAP) suggests that the economy weakened further in March. But the slowdown so far this year has been milder than we had anticipated and may be close to bottoming out. We have... 29th April 2019 · 1 min read
China Activity Monitor Growth slows further in early 2019 Our China Activity Proxy (CAP) suggests that the economy softened in the second half of 2018 and weakened further in the first two months of this year. The slowdown has been mild so far, with growth... 20th March 2019 · 1 min read
China Activity Monitor Construction props up activity, but headwinds remain Our China Activity Proxy (CAP) suggests that growth edged up in December driven by strong construction activity. But with credit now growing at the slowest pace in more than a decade and the impact of... 28th January 2019 · 1 min read
China Activity Monitor Year ending with growth slipping Our China Activity Proxy (CAP) points to a slowdown to near 5% growth in November. The government Economic Work Conference just concluded with a pledge to increase fiscal support and hints that... 21st December 2018 · 1 min read
China Activity Monitor Strong construction activity propping up growth Our China Activity Proxy (CAP) suggests that growth held up fairly well in October, supported by robust construction activity. But with a property demand weak and signs that developers are becoming... 22nd November 2018 · 1 min read
China Activity Monitor Growth edges down, more weakness on the horizon Our China Activity Proxy (CAP) suggests that growth edged down last month and shows a more pronounced slowdown over the past year than the official GDP figures. We anticipate further weakness ahead as... 29th October 2018 · 1 min read
China Activity Monitor Growth holding up but outlook still challenging Our China Activity Proxy (CAP) shows surprisingly rapid growth in August. But with the impact of property controls and slower credit creation yet to be fully felt, growth still faces near-term... 21st September 2018 · 1 min read
China Activity Monitor Growth weakens Our China Activity Proxy (CAP) suggests that economic growth slowed in July to the weakest pace in five months. We think the slowdown has further to run. The US-China trade conflict will be a drag on... 22nd August 2018 · 1 min read
