China Data Response GDP (Q4), Activity & Spending (Dec.) On the official figures, China’s economy expanded at the fastest pace in two years last quarter. The monthly data suggest that growth dropped back slightly heading into 2021 but it remains strong. We... 18th January 2021 · 4 mins read
China Data Response China Trade (Dec.) Exports continued to do well last month, as renewed lockdowns abroad ensured the shift in consumption from services to goods persisted in many of China’s trading partners. Meanwhile, a pick-up in... 14th January 2021 · 2 mins read
China Data Response China Bank Lending & Broad Credit (Dec.) The slowdown in broad credit growth gathered momentum in December. We think credit growth will drop back further in the coming months as the PBOC continues to focus on reining in financial risks now... 13th January 2021 · 2 mins read
China Data Response China Consumer & Producer Prices (Dec.) Headline inflation returned to positive territory last month as the drag from pork prices eased. Broader price pressures also edged up on the back of stronger demand. With underlying inflation likely... 11th January 2021 · 2 mins read
China Data Response China PMIs (Dec.) The latest manufacturing surveys suggest that factory activity remained strong in December but that the pace of expansion has started to ease. The official non-manufacturing PMI suggests that growth... 4th January 2021 · 2 mins read
China Data Response China Activity & Spending (Nov.) China’s economy continued to accelerate across all fronts in November. We expect output to remain above-trend in the coming quarters, even as tailwinds from stimulus and exports start to ease. 15th December 2020 · 3 mins read
China Data Response China Bank Lending & Broad Credit (Nov.) After accelerating in recent months, broad credit growth slowed slightly in November. We think this marks the start of a slowdown in credit growth as the PBOC turns its attention to tackling financial... 9th December 2020 · 2 mins read
China Data Response China Consumer & Producer Prices (Nov.) Consumer prices fell year-on-year for the first time since 2009 last month. But this was almost entirely driven by a rebound in pork supply and isn’t evidence of faltering demand. To the contrary... 9th December 2020 · 2 mins read
China Data Response China Trade (Nov.) Exports jumped last month largely due to a surge in consumer goods exports as renewed COVID-19 flare-ups kept consumption in many of China’s trading partners skewed towards goods rather than services... 7th December 2020 · 2 mins read
China Data Response China Caixin Manufacturing PMI (Nov.) The Caixin manufacturing PMI hit a decade high in November. The official survey released yesterday also rose, to its highest in three years. While the rebound in industry will eventually lose steam... 1st December 2020 · 2 mins read
China Data Response China Official PMIs (Nov.) The latest official PMI surveys show that the pace of economic growth picked up in November on the back of a broad-based improvement in both services and manufacturing. 30th November 2020 · 2 mins read
China Data Response China Activity & Spending (Oct.) The latest data suggest that the broad-based acceleration of China’s economy continued in October. Policy stimulus continued to boost investment and industrial output while growth in real retail sales... 16th November 2020 · 3 mins read
China Data Response China Bank Lending & Broad Credit (Oct.) Broad credit growth hit is highest level in nearly three years as faster growth in direct financing and shadow credit more than offset slower bank lending. We think this acceleration will continue... 11th November 2020 · 2 mins read
China Data Response China Consumer & Producer Prices (Oct.) Headline consumer price inflation fell sharply in October, to its lowest since 2009. But this was almost entirely due to falling food prices – core inflation and factory gate inflation held steady... 10th November 2020 · 2 mins read
China Data Response Trade (Oct.) Exports continued to do well last month thanks to a shift in consumption, from services toward goods, in many of China’s trading partners. Meanwhile, inbound shipments held up better than the decline... 9th November 2020 · 2 mins read
China Data Response PMIs (Oct.) The Caixin manufacturing PMI points to an acceleration in manufacturing activity in October. Admittedly, the official survey released on Saturday pointed to a marginal slowdown. But taken together... 2nd November 2020 · 2 mins read
