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.
Daily Monitor Datanotes Duncan Wrigley
Chinese GDP beats expectations, despite an uneven recovery and looming oversupply issues
Duncan WrigleyChina+
- The PBoC left the MLF rate unchanged yesterday, likely wary of currency pressure.
- Social financing growth slowed in March, due to soft domestic demand and lower bond issuance.
- Government-bond issuance is likely to pick up in Q2, the key plank of short-term growth support.
Duncan WrigleyChina+
The PBoC keeps the MLF rate on hold, despite slowing credit growth
Duncan WrigleyChina+
The PBoC keeps the MLF rate on hold, despite slowing credit growth
Duncan WrigleyChina+
Disappointing credit data point to undercooked domestic demand, despite fiscal stimulus
Duncan WrigleyChina+
- China’s GDP growth should increase slightly in Q1 quarter-to-quarter, but severe imbalances persist.
- A robust industrial sector contrasts with plunging new-property sales and flat consumption activity.
- Policy support for consumer goods trade-ins and equipment upgrades should be incrementally helpful.
Duncan WrigleyChina+
Japan's broad wage growth still lacklustre
Duncan WrigleyChina+
PMIs point to services sector buoyancy in China and Japan
Duncan WrigleyChina+
Chinese manufacturing demand improves after the Lunar New Year holiday
Duncan WrigleyChina+
Korean exports propelled by resurgent semiconductor shipments
Duncan WrigleyChina+
Post-holiday improvement in Caixin, Korean PMIs; Japanese Tankan fades; Korean exports sustain recovery trend
Duncan WrigleyChina+
- China’s March official and Caixin manufacturing PMIs were both above 50 for the first time since September.
- A strong industrial sector is generating demand for business services too.
- But the lacklustre labour market and dismal property sector will limit the speed of China’s recovery.
Duncan WrigleyChina+
- China’s foreign direct investment seems to have passed its lowest point, hit in late 2023.
- Top policymakers are rolling out the red carpet to tempt foreign CEOs back to China, as it recovers.
- But geopolitical tensions will limit the foreign investment rebound, especially in high-tech sectors.
Duncan WrigleyChina+
Modest improvement in still-dull Japanese manufacturing activity reading
Duncan WrigleyChina+
Japan's robust services sector contrasts with drab manufacturing activity; Exports still strong, despite headline dip
Duncan WrigleyChina+
- 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 activity - industrial sector powers ahead, despite persistent property drag and retail sales losing steam
Duncan WrigleyChina+
- 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+
Fiscal stimulus likely to drive credit demand after the holiday period
Duncan WrigleyChina+
China's action plan for equipment upgrading & consumer goods trade-ins to prop up demand
Duncan WrigleyChina+
