China Data Response

Manufacturing PMIs (Jan.)

China’s official PMI slumped last month, but this index is often choppy around Chinese New Year. We would put more weight on the continued rise in the alternative PMI from HSBC and Markit, as well as...

1st February 2013 · 1 min read

China Data Response

HSBC/Markit Flash Manufacturing PMI (Jan.)

Today’s better-than-expected flash manufacturing PMI from HSBC and Markit supports the view that China’s recovery is continuing at the start of the year. But distortions around Chinese New Year mean...

24th January 2013 · 1 min read

China Data Response

Consumer & Producer Prices (Dec.)

Freezing weather drove food prices and inflation higher last month but, as we head into the Chinese New Year period, underlying price pressures appear subdued.

11th January 2013 · 1 min read

China Data Response

HSBC/Markit Flash Manufacturing PMI (Dec. 12)

Today’s upbeat flash manufacturing PMI from HSBC and Markit suggests that China’s recovery is continuing in the last few weeks of 2012. But a high level of inventories is continuing to weigh on output...

14th December 2012 · 1 min read

China Data Response

Lending and total social financing (Nov.)

Today’s lending data released by the People’s Bank support the view that current policy support is insufficient to drive a prolonged acceleration in economic growth.

11th December 2012 · 1 min read

China Data Response

Manufacturing PMIs (Nov.)

China’s two manufacturing PMIs are both above 50 for the first time in over a year. But the recovery is unbalanced, with smaller firms reporting that conditions are the weakest in six months.

3rd December 2012 · 1 min read

China Data Response

HSBC/Markit Flash Manufacturing PMI (Nov. 12)

Today’s flash manufacturing PMI from HSBC and Markit provides further reassurance that recovery is underway, but hopes for a strong rebound will probably be disappointed given lingering weakness in...

22nd November 2012 · 1 min read

China Data Response

Manufacturing PMIs (Oct.)

The pick-up in China’s two manufacturing PMIs provides further signs of recovery in October, with particular strength in new orders.

1st November 2012 · 1 min read

China Data Response

HSBC/Markit Flash Manufacturing PMI (Oct. 12)

Today’s flash manufacturing PMI from HSBC and Markit provides further signs of a mild recovery in China’s economy.

24th October 2012 · 1 min read

China Data Response

Lending and total social financing (Sep.)

Unexpectedly weak bank lending in September was offset by strong growth in other forms of credit. But credit overall is not growing at a speed likely to fuel a significant economic rebound.

12th October 2012 · 1 min read

China Data Response

Manufacturing PMIs (Sep.)

China’s two manufacturing PMIs both picked up in September but give no strong reason to believe that we are on the cusp of a sustained rebound.

1st October 2012 · 1 min read

China Data Response

HSBC/Markit Flash Manufacturing PMI (Sep. 12)

Today’s flash manufacturing PMI from HSBC and Markit provides signs of stabilization in China’s economy but not of recovery.

20th September 2012 · 1 min read

China Data Response

Lending, broad credit growth (Aug.)

The strength of bank lending in August is a rare piece of positive economic news from China after weeks of downbeat data. But any optimism should be tempered by the fact that borrowing by firms, as...

11th September 2012 · 1 min read

China Data Response

Manufacturing PMIs (Aug.)

China’s two manufacturing PMIs both dropped in August to their lowest levels since November last year. Small firms are struggling, which is no great surprise. But large firms are finding conditions...

3rd September 2012 · 1 min read

China Data Response

HSBC/Markit Flash Manufacturing PMI (Aug.)

The weakness in today’s flash PMI suggests that hopes for an economic recovery in the current quarter will be dashed, again.

23rd August 2012 · 1 min read