China+ Publications
Below is a list of our China+ Publications for the last 6 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep
Please use the filters on the right to search for a specific date or topic.
Duncan Wrigley
Severe competition drives services price cuts in China, despite resilient demand
Duncan WrigleyChina+
Caixin headline manufacturing index makes only minor revival, dragged by sinking new export orders
Duncan WrigleyChina+
Caixin manufacturing index still at low level, despite modest uptick
Korea's manufacturing index robust, but export orders slip
Duncan WrigleyChina+
- China’s controversial ‘housing pension’ scheme rollout highlights the cost of an aging housing stock.
- Homeowners worry they will have to foot more of the bill for maintaining housing; another reason to save.
- Q2 credit data suggest the game plan to hit “about 5%” GDP growth this year is running into obstacles.
Duncan WrigleyChina+
Producer deflation set for only modest improvement in H2
Duncan WrigleyChina+
China's consumer inflation buoyed by seasonal food inflation, rather than demand
Producer deflation extends decline amid oversupply
Duncan WrigleyChina+
- China’s headline consumer inflation rose in July, but this was due to weather-related food inflation.
- Domestic demand still looks sluggish, based on core consumer inflation.
- A jump in auto trade-in subsidy applications, despite overall falling sales, offers a ray of hope for H2.
Duncan WrigleyChina+
Japan's wages surge appears driven by bonuses
Duncan WrigleyChina+
- Japan’s June wage rise beat market expectations, in both nominal and real terms.
- The rise was largely driven by a spike in special cash payments, rather than regular pay.
- Governor Ueda will, however, cite the wage uptick as justifying last week’s BoJ’s policy rate hike.
Duncan WrigleyChina+
- China’s new urbanisation action plan, announced last week, has largely flown under the radar...
- ...But, if properly implemented, it should go a long way to rebalancing China’s economy...
- ...By unleashing the full domestic demand potential embedded in the unfinished urbanisation project.
Duncan WrigleyChina+
China's official PMIs point to stagnating manufacturing activity
Duncan WrigleyChina+
BoJ raises the policy rate ahead of market expectations
Duncan WrigleyChina+
BoJ raises the policy rate ahead of market expectations
China's official PMIs point to stagnating manufacturing activity & slump in construction demand
Duncan WrigleyChina+
Politburo calls for incremental policy measures, but no bazooka
Duncan WrigleyChina+
- The BoJ yesterday announced a policy rate hike, despite cutting its inflation forecast for this year.
- Governor Ueda said the Bank will continue to raise rates if growth and inflation match its expectations.
- The real motivation for the rate increase is probably to minimise the risk of a steep JPY reversal.
Duncan WrigleyChina+
- The BoJ will probably placate currency investors by cutting back bond-buying on Wednesday...
- ...But will likely stay put on the policy rate, in order to prop up growth and foster demand-pull inflation.
- Tokyo headline inflation edged down in July, though core inflation excluding fresh food inched up.
Duncan WrigleyChina+
Tokyo consumer inflation unlikely to trouble the BoJ
Duncan WrigleyChina+
Tokyo consumer inflation unlikely to trouble the BoJ
Duncan WrigleyChina+
The PBoC's surprise MLF rate cut rams home China's re-orientation towards short-term growth support; fiscal policy tweaks
Duncan WrigleyChina+
- The PBoC yesterday made an unscheduled 20bp MLF rate cut, following earlier policy rate cuts.
- Policymakers are clearly worried about the H2 outlook, after Q2 GDP growth halved versus Q1.
- Policymakers are likely to stress fiscal support to stabilise growth, but no mega-stimulus.
Duncan WrigleyChina+
