Pantheon Macroeconomics

Best viewed on a device with a bigger screen...

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.

us Profits

28 June 2022 Chinese Profits Under Pressure, and Stimulus is Still Lacking

Chinese industrial profits fell again in May, despite the reopening from lockdown. 

Government support likely propped up profits in some sectors, demand still looks weak. 

The PBoC is injecting liquidity again, but this is about quarter-end management, not stimulus. 

Craig BothamChina+

30 May 2022 The Excitement is Over for Japanese Inflation, and the BoJ

Inflation is stabilising in Japan, after its April surge, and we do not expect much movement from here.

Yen weakness has partially reversed, thanks to U.S. data, easing the pressure on the BoJ.

Chinese industry is under pressure, particularly the private sector, and policy offers only limited support.

Craig BothamChina+

CHINA+ DATA WRAP 27 MAY 2022: Inflation stabilises in Japan, profits plunge in China

A more boring month for Japanese inflation

Profits collapsed during China’s lockdown

Craig BothamChina+

29 Mar 2022 Weaker Chinese Profit Growth Heightens Political Risks

  • Chinese industry faces rising costs, both from global markets and domestic Covid policies...
  • ...Coupled with weaker demand, this implies that profitability will be under heavy pressure this year.
  • Policy efforts to support China's struggling firms will likely raise tensions with trading partners.

Craig BothamChina+

28 Mar 2022 More of the Wrong Sort of Inflation for the BoJ, as the Yen Plummets

  • Energy and food push inflation higher, and Japan is set to beat its target next month...
  • ...but the BoJ won't be moved, as demand-pull inflation remains as elusive as ever.
  • Yen weakness is the biggest challenge to the BoJ's position, and likely will force a shift by H2.

Craig BothamChina+

28 Jan 2022 A Bumper Period for Chinese Industrial Profits is Ending

  • Chinese industrial profit growth slowed further in December, though 2021 was stellar overall.
  • The pandemic has lifted profits far above trend, but the bounty is now over, as headwinds build.
  • Elevated costs, limited pricing power, tighter Fed policy, and increased competition, will hit profits.

Craig BothamChina+

CHINA+ DATA WRAP 27.01.22 - Chinese Industrial Profits

Propped up by the pandemic, profit growth is returning to normal

Craig BothamChina+

4 Jan 2022 Bright in Patches, but a Largely Dismal End to China's 2021

  • Despite some apparent good news, early data point to marginal weakening in growth in December.
  • Policymakers are delivering more initiatives, but they will only cushion the fall.
  • Bad news on Sinovac efficacy versus Omicron means reopening is pushed back a year, at least.

Craig BothamChina+

10 Dec 2021 China Finds Seasonal Cheer in November Inflation

  • Chinese consumer price inflation accelerated in November, driven by food prices...
  • ...but base effects will soon weigh on the index, such that November marks the near-term peak.
  • Producer price inflation has already begun to rollover, as energy prices start to fall.

Craig BothamChina+

  Publication Filters

Change View: List   Small Grid  

Filter by Keyword

Filter by Publication Type

Filter by Author

Global Publications Only

Filter by Date
(6 months only; older publications available on request)

  Quick Tag Filters

Consistently Right
Access Key Enabled Navigation
Keywords for: China+ Documents

China+ Document Vault, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence