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7th Jan 2022 00:00China+, Daily Monitor, Asia Key Issues

  • China's service sector PMIs are surprisingly strong, given the Covid outbreaks in December.
  • We think financial activity is distorting the readings, which are unlikely to be followed by real growth.
  • Inflation pressures are receding, leaving policy free to focus on the growth challenge this year.

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activity caixin caixin manufacturing caixin manufacturing pmi china demand energy export export orders external demand global growth index inflation it japan korea manufacturing manufacturing pmi manufacturing sectors new export orders orders output pmi pmi surveys pmis private sector raw materials remain sector sectors supply survey surveys trade

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