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10 matches for " local governments":
China's industrial profits tanked in January/ February, falling 14.0% year-to-date year-over-year, after a 1.9% drop year-over-year in December.
Following the much-anticipated meeting between Presidents Xi and Trump over the weekend, the U.S. will now leave existing tariffs on $200B of Chinese goods at 10%, rather than increasing the rate to 25% in January, as previously slated.
So that happened.
China's authorities recognised, around the middle of this year, that activity was slowing and that monetary conditions had become overly tight.
A PBoC rate cut is looking increasingly likely. Policy is already on the loosest setting possible without cutting rates, but the Bank has little to show for its marginal approach to easing, with M1 growth still languishing.
Colombian activity data released this week were relatively strong, but mostly driven by the primary sectors; consumption remains sluggish compared to previous standards.
Monetary policy loosening over the last year implies that China's M1 growth already should be picking up.
China's October activity data showed signs of the infrastructure stimulus machine sputtering into life. Consensus expectations appear to hold out for a continuation into November, but we think the numbers will be disappointing.
Official industrial production growth in China plunged to 5.4% year-over-year in April, from 8.5% in March.
China's M2 growth stabilised in November, at 8.0% year-over-year, matching the October rate.
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