China+ Documents

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.

China+ Datanote: PPI, China, October

In one line: China’s headline producer deflation masks stimulus-driven price upticks in construction materials

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: CPI, China, October

In one line: China’s CPI near deflation weighed down by volatile items; uptick in services inflation

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Current Account, China, Q3

In one line: China’s Q3 current account surplus widens; inward FDI remains negative for second consecutive quarter

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Exports, China, October

In one line: One month’s data can be misleading; China's quarterly export growth has, in fact, decelerated.

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Foreign Reserves, China, October

In one line: China’s foreign reserves drop in October amid dollar strength and outflow pressures.

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Wages, Japan, September

In one line: Japan’s wage growth holds steady, supporting case for BoJ hike in early 2025; Our revised forecasts post-Trump victory show weaker growth

Kelvin Lam (Senior China+ Economist)China+

9 December 2024 China+ Monitor Japanese consumption activity still weak, as BoJ monitors wage trends

Japan’s real household spending fell further in October as people tighten their purse strings.
Consumer sentiment dipped slightly in November, held back by willingness to buy durable goods.
The BoJ will probably hike rates this month, as long as market risks from Korean politics are contained.

Duncan WrigleyChina+

CHINA+ DATA WRAP 4 December 2024: Caixin services PMI slows a notch

Caixin services PMI slows a notch

Duncan WrigleyChina+

4 December 2024 China+ Monitor Korea's export trend slowing amid growing global trade tensions

Korea’s headline export growth eased in November, but work-day-adjusted data showed a bounce-back.
The rebound was driven by stronger ASEAN shipments; overall growth momentum is slowing.
We expect the BoK to ease by 75bp in 2025 to counteract the increasingly uncertain export outlook.

Kelvin Lam (Senior China+ Economist)China+

3 December 2024 China+ Monitor China's manufacturing riding near-term support

Both of China’s manufacturing PMIs in November point to a near-term uptick in activity.
But their price indices are a mixed bag, and China probably hasn’t escaped deflation just yet.
The construction PMI disappointed, due to the continued drag from housing construction.

Duncan WrigleyChina+

Tokyo headline inflation leapt in November, mainly on the back of higher energy and fresh food inflation.
Core inflation—excluding energy and fresh food—and services inflation only inched up.
The BoJ is likely feeling boxed in by rising market bets on a December rate hike, implying 60% probability.

Duncan WrigleyChina+