China+ Publications
Below is a list of our China+ Publications for the last 5 months. If you are looking for reports older than 5 months please email info@pantheonmacro.com, or contact your account rep
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Duncan Wrigley
China's worsening producer deflation mainly due to bad weather
Low core consumer inflation reflects weak demand
- China’s producer deflation is entrenched, but the worsening in June was due to temporary factors.
- Auto prices rose, after firms pledged faster supplier payments; other sectors are making supply policies.
- Weak core consumer inflation is indicative of poor demand; all eyes on the end-month Politburo meeting.
- Japan’s wages took a big knock from a bonus plunge in May, as exporters’ profits were hurt by the tariff war.
- The headline large-manufacturer Tankan was oddly steady in Q2, despite the tariff war.
- Consumption still looks soft, despite one-off factors boosting May’s household spending data.
- Chinese policymakers are seemingly rethinking policy to rein in unbridled competition, after prior false starts.
- The key is political will—and a plan—to overcome vested interests, both local governments’ and firms’.
- Getting it right should lead to firmer pricing, stronger profits and less wasted capital investment.
China's Caixin PMI, Korea's PMI and Japan's Tankan point to manufacturers' measured relief at easing trade tensions
- The Caixin PMI rebounded more strongly than the official manufacturing index in June…
- …Deflation pressures are festering, however, likely forcing regulatory curbs on excessive competition.
- Korea’s manufacturing PMI is starting to rise from its sickbed, now the election has reduced political risk.
- The PBoC on Friday hinted it saw less need for a near- term monetary policy boost than three months ago.
- The June official manufacturing PMI improved, thanks to policy support and an easing in tariff tensions.
- The construction PMI ticked up at last, but it’s too soon to celebrate; the hard data pointed to slowing.
