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.
Emerging Asia Weekly Monitor
- Tokyo CPI declined sharply to a 22-month low in January, driven by softer food and services inflation.
- Core inflation excluding fresh food and energy fell to an elevated 3.1%; signs of sustainable price growth.
- The BoJ is likely to end negative interest rates in April, even if the fundamentals are not ready.
Duncan WrigleyChina+
- Japanese consumer inflation continued to cool in December, led by falling food and energy inflation.
- Core inflation excluding fresh food fell to 2.3% year-over-year, just above the BoJ’s 2% target.
- The BoJ is likely to end negative interest rates in Q2, though an argument for delaying this is building.
Duncan WrigleyChina+
- China’s M2 growth fell in December, amid soft mortgage loan demand.
- Government-bond issuance is supporting social financing growth, despite slowing loan growth.
- The PBoC announced an additional RMB500B PSL quota, to fund projects like urban redevelopment.
Duncan WrigleyChina+
- Japan’s services sector is expanding at a faster pace; the PMI reports more domestic customers.
- The downturn in manufacturing intensified on demand uncertainty, both at home and abroad.
- The BoJ is likely to exit its negative rate policy in Q2, even if the economic backdrop does not warrant it.
Duncan WrigleyChina+
- Developer funding improved in November, thanks to regulatory support to ensure project completions.
- Home sales continue to fall steeply, but construction activity appears to be bottoming out at a low level.
- A sharp fall in existing-home prices likely indicates a supply surge as investors offload properties.
Duncan WrigleyChina+
- November data show China’s consumption demand stagnating as winter closes in.
- The headline jump in industrial output is misleading, driven by utilities and base effects.
- A sharp fall in existing-home prices likely indicates a supply surge as investors offload proper ties.
Duncan WrigleyChina+
- Japan’s Q3 GDP growth was revise d down, largely due to a lower estimate for private consumption.
- Service exports surprisingly fell over the quarter, suggesting foreign tourism spending has peaked.
- Wage growth improved in October, partly thanks to bonuses; the BoJ is tracking the spring wage talks.
Duncan WrigleyChina+
- The BoK left the policy rate unchanged last week; it raise d its 2024 inflation forecast.
- The Bank is likely to shift its focus to growth support in 2024 but delay the first rate cut until Q3.
- Korean export growth rose in November, largely thanks to base effects; trade is still bottoming out.
Duncan WrigleyChina+
