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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Chartbook Daily Monitor
- China’s broad credit growth rose in April, driven primarily by faster issuance of government bonds.
- The widening M2-M1 gap signifies persistent deflation pressure and subdued economic activity.
- Uncertainty over the outcome of talks will weigh on the economy, despite the recent US-China trade truce.
- China continues to suffer from deflation, amid falling commodity prices and trade disruption.
- Consumer core inflation remains subdued; producer prices for some export-related goods have fallen.
- The US–China tariff reprieve is growth-positive, but the outcome of negotiations remains highly uncertain.
- The PBoC yesterday announced targeted policy-rate and RRR cuts to bolster growth ahead of trade talks.
- The interest rate cut came earlier than we expected, capitalising on room created by CNY strength.
- The Bank is guiding to targeted mortgage rate cuts to support the stumbling ‘ordinary’ housing market.
- Industrial profitability improved further in Q1, on the back of strong manufacturing production.
- China’s industrial output was bolstered by stimulus demand and tariff front-loading activity.
- External uncertainty does not bode well for producers’ profit outlook, as overcapacity issues are worsening.
- The Bank of Japan left rates on hold yesterday to no-one’s surprise, but adopted a more bearish outlook.
- Governor Ueda denied that the prospect of delay in attaining the inflation goal means delayed rate hikes.
- It probably does for this year, but Ueda is maintaining room to shift policy in light of trade uncertainty.
- China’s April PMIs reveal the initial hit from the tariff stand-off, with steep drops in new export orders.
- Neither the US nor China appears ready to relent at this stage, so further weakness lies ahead.
- China is rolling out an eclectic set of growth-support measures, but won’t go for mega-stimulus.
