China Rapid Response China GDP (Q2) & Activity (Jun. 2024) Weaker-than-expected official GDP figures show that China’s economy lost momentum in Q2. But we doubt this marks the beginning of a renewed downturn just yet – a step up in fiscal stimulus and... 15th July 2024 · 2 mins read
China Rapid Response Bank Lending & Broad Credit (Jun.) Both bank loan and broad credit growth hit a record low in June. While further fiscal loosening may provide some support to credit growth in the near-term, the continued weakness of the property... 12th July 2024 · 2 mins read
China Rapid Response China Merchandise Trade (Jun. 2024) Export values grew y/y at the fastest pace in 15 months, with export volumes hitting record highs. We think exports will stay robust in the near term despite increased Western tariffs. Import volumes... 12th July 2024 · 3 mins read
China Rapid Response China Consumer & Producer Prices (Jun. 2024) Consumer price inflation edged down in June. Producer price deflation eased but this was entirely due to base effects. We still expect a slight uptick in CPI inflation over the coming months but... 10th July 2024 · 2 mins read
China Rapid Response China PMIs (Jun. 2024) The PMIs for June suggest that China’s economy lost some momentum last month. But the manufacturing surveys may have been weighed down by negative sentiment effects due to recent tariff announcements... 1st July 2024 · 3 mins read
China Rapid Response China Activity & Spending (May 2024) May’s activity data were a mixed bag with an uptick in retail sales and slowdown in industrial production partially reversing the recent trend of strength on the supply side and weaker demand. 17th June 2024 · 2 mins read
China Rapid Response Bank Lending & Broad Credit (May) Bank loan growth in China was the slowest on record in May, but accelerated government bond issuance helped broader credit growth edge up. Fiscal loosening should support further gains in the near... 14th June 2024 · 2 mins read
China Rapid Response China Consumer & Producer Prices (May 2024) Producer prices picked up for the first time in eight months and consumer price inflation held steady in May. We expect inflation to rebound in the coming months. But due to persistent overcapacity... 12th June 2024 · 2 mins read
China Rapid Response China Merchandise Trade (May 2024) Export values rose y/y at the fastest pace since April 2023, with export volumes also picking up. We think exports will remain strong in the coming months, defying the expansion of Western tariffs... 7th June 2024 · 2 mins read
China Rapid Response China PMIs (May 2024) The jump in the Caixin services PMI means that the survey data for May now suggest economic momentum remained fairly robust last month. We think strength in exports, a step-up in fiscal support and... 31st May 2024 · 3 mins read
China Rapid Response China Activity & Spending (Apr. 2024) Industrial production continued to accelerate thanks to strong exports, but growth on most other indicators slowed, pointing to softer domestic demand. We expect a renewed pick-up over the coming... 17th May 2024 · 2 mins read
China Rapid Response China Consumer & Producer Prices (Apr. 2024) PPI deflation eased and CPI inflation rose in March, but they remained relatively subdued compared with pre-pandemic norms. We think inflation will continue to edge up in the near term. But persistent... 13th May 2024 · 2 mins read
China Rapid Response Bank Lending & Broad Credit (Apr.) Broad credit growth slowed sharply to its weakest pace on record last month. This threatens to derail the ongoing economic recovery and is likely to trigger additional policy easing. Increased fiscal... 13th May 2024 · 3 mins read
China Rapid Response China Merchandise Trade (Apr. 2024) Export values returned to growth last month after contracting in March, but this was mainly due to a lower base for comparison. Export volumes were little changed in April following a pullback in the... 9th May 2024 · 2 mins read
China Rapid Response China Politburo Meeting (Apr. 24) China’s senior leadership has today signalled further fiscal and monetary support for the economy and renewed efforts to stabilise the housing market. That should help prolong the recent economic... 30th April 2024 · 3 mins read
