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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- China’s $11.5B rise in foreign reserves in December was down entirely to currency-valuation effects.
- The large trade surplus has been resilient, despite tariff frictions, due to exports expanding into new markets.
- Our estimated residual net capital outflow probably points to retained export earnings held offshore.
- The December RatingDog services PMI points to slowing demand but a marked revival in sentiment.
- Firms are reluctant to hire though, and services inflation pressure is muted.
- China has provided more funds for consumer subsidies, though less than this time last year.
In one line: Sentiment rose, despite slowing demand
- China’s manufacturing PMIs ended the year on a positive note, but thanks to short-term effects.
- The construction PMI rose to its highest since March, but due to mild winter weather rather than stimulus.
- Policymakers will monitor the quasi-fiscal investment stimulus, while making only minor policy tweaks.
