Pantheon Publications

CHINA+ DATA WRAP 21 March 2024: Flash PMIs points to improved activity

Japan's robust services sector contrasts with drab manufacturing activity; Exports still strong, despite headline dip

Duncan WrigleyChina+

22 March 2024 China+ Monitor Japan's sunny service sector clouded by insipid manufacturing activity

• Japan’s March flash manufacturing PMI points to still-tepid activity, though improving modestly.
• The service sector continues to shine brightly, albeit based narrowly on tourism and finance.
• A jump in service-sector input costs is a worrying sign of persistently elevated inflation.

Duncan WrigleyChina+

CHINA+ DATA WRAP 18 March 2024: industry powers on, as retail sales slow

China activity - industrial sector powers ahead, despite persistent property drag and retail sales losing steam

Duncan WrigleyChina+

19 March 2024 China+ Monitor China's China's industrial sector strength contrasting with tepid consumption

• China’s lopsided recovery continued in January and February, led by a galloping industrial sector...
• ...Demand is likely mainly coming from exports and fixed asset investment, with consumption still tepid.
• Further price cuts should drive car sales, while new-property developer woes continue.

Duncan WrigleyChina+

China+ Datanote: Money & Credit, China, February

Fiscal stimulus likely to drive credit demand after the holiday period

Duncan WrigleyChina+

18 March 2024 China+ Monitor China's credit data point to a dull economy; policy uplift yet to come

• China’s February credit data indicate still-flat borrowing demand, after filtering the holiday noise.
• Credit growth is likely to pick up as government-bond issuance rises to fund fiscal support.
• The equipment-upgrade and ‘cash-for-clunkers’ measures should also spur loan demand.

Duncan WrigleyChina+