Wed, May 19, 2021 @ 00:07 GMT
Home Tags Industrial production

industrial production

China’s Growth Slowed Across the Board in April

China’s April data sent a mixed message about the economy. Retail sales expanded +17.7% y/y in April, significantly weaker than consensus of +25% and March’s +34.2%.  Urban fixed asset investment (FAI) growth moderated to +19.9% in the first 4 months of the year, from +25.6% in 1Q21. The market...

China Economic Activities Expanded Significantly, Mainly Due to Low Base Effect

China's macroeconomic data for the first two months of this year have delivered a mixed message. While growth in industrial production (IP), retail sales and urban fixed asset investment (FAI) all exceeded 30% when compared with the same period of last year, this was driven by the exceptionally low...

Longer-Term Demand/Supply Outlook Remains Supportive of Copper Strength

Breaching the US9000/tonne benchmark, LME copper price skyrocketed to the highest level since 2011. The recent rally in copper price has been driven by hopes of stronger demand as global economic recovery accelerates and concerns over supply tightness in the metal. While the demand/supply looks positive for the metal...

China’s November Data Signals Recovery Continues. PBOC to Keep Powder Dry

The latest set of economic data indicates economic recovery in China continued. Growth in industrial production improved slightly, while manufacturing investment accelerated, thanks to strong exports growth. Retail sales growth accelerated, suggesting internal circulation has taken effect. Industrial production expanded +7% y/y in November, inline with expectations and up +0.1...

China’s Economic Recovery and Less Policy Accommodation Lend Support to Renminbi

The latest set of economic data in China reflects that recovery continued in October. Growth was seen in both the supply and demand sides. However, while supply side continued to expand more than anticipated, the consumer spending did not perform as strong as market expectations. PBOC has recently mentioned...

China’s GDP Growth Missed Consensus. Strong Activity Data Support Renminbi’s Outlook

The latest set of China's macroeconomic data is mixed in the headline. GDP growth in the third quarter came in below market expectation. However, major indicators such as industrial production, retail sales and fixed asset investment all beat consensus, confirming recovery is underway. Against this backdrop, we expect PBOC...

Upbeat August Chinese Data Suggests PBOC to Leave Rates Unchanged for Longer

The latest set of macroecononmic indicators in China suggests that economic activities surprised to the upside in August. Growth in industrial production accelerated while retail sales gained first the first time since February. Better-than-expected data in August signals that it is less likely for PBOC to cut interest rates. Industrial...

China’s Retail Sales Shrank Further, Evidencing Weak Domestic Demand

The latest set of macroeconomic data suggests that the pace of recovery in China remained slow, as a result of flooding and second wave of coronavirus outbreak. Improvement industrial activities decelerated, while retail sales continued to shrink. Weak domestic spending was evident in subdued core CPI released earlier this...

Silver Price to Go High on Economic Recovery amidst High Uncertainty

Silver price’s rally has accelerated over the past weeks. Currently trading at US$ 22.65/oz, price has jumped +27% ytd. Yet, much of the gains (22% out of 27%) was made in the first three weeks of July. With its dual properties, as both industrial and precious metals, silver will...

China Recorded Strong Recovery in 2Q20 but Domestic Demand Remained Weak. Risks Skewed to Downside in Second Half

GDP expanded +3.2% y/y in 2Q20, beating consensus of +2.4%. From a quarter ago, the expanded jumped+11.5%. Concerning major macroeconomic indicators in June, industrial production (IP) rose +4.8% y/y in June, in line with expectations and accelerating from +4.4% in May. Urban fixed asset investment (FAI) declined -3.1% y/y...

More Stimuli Needed to Support China’s Gradual Economic Recovery

Industrial production (IP) expanded +3.9% y/y in April, beating consensus of +1.5% growth and a -1.1% contraction in the prior month. The strong recovery was mainly driven by the low base effect. Production of automobile, and machinery and equipment contributed the most to the April recovery. These sectors were...

China’s GDP Contracted the Most in Decades as Driven its Self-Produced Coronavirus

The coronavirus outbreak, started in China, has evolved into a global pandemic, causing great damage to the world economy. The latest data show that it led China to the worst economic downturn on record. Major macroeconomic indicators in March show less significant contraction than a month, a result of...

China Data Reveal Further Downside Risks in Economy

China’s major economic data in October all missed expectations and slowed from a month ago. Growth in industrial production decelerated to +4.7% y/y, from +5.8% in September. Retail sales growth weakened to 7.2% m/m, compared with +7.8% in September. Part of the reasons can be deferred spending ahead of...

Taiwan’s Economy Benefits from US-China Trade War

Uncertainty about US-China trade war continues. While negotiations are schedule to resume next week, chance of reaching resolution is low. While some have warned that ‘when China sneezes, the world catches cold’, there are economies that benefit from the trade conflict. It appears that the economy of Taiwan, which...

China Watch – Economy Going from Bad to Worse

China’s macroeconomic indicators showed significant weakness across the board. Industrial production gained +4.4% y/y in August, easing from +4.8% in the prior month. The growth rate came in weaker than consensus of +5.2% and marks the slowest in over 17 years. The rapid slowdown was partly driven by the...

Chinese Data Surprised to Downside in July. Tariff Delay Won’t Help Arrest Slowdown

China’s economic data surprised to the downside in July. Delay in US tariff should have limited boost on China’s growth outlook. Industrial production gained +4.8% y/y in July, missing consensus of +5.8% and June’s 6.3%. The slowdown is the most severe since February 2009 and caught the market in...

Chinese Economy Weakest in Almost Three Decades. Growth Could Fall Below 6% by Year-End.

GDP growth eased to +6.2% y/y in 2Q19, down from +6.4% in the prior quarter. This marks the weakest growth in 27 years. On a q/q saar basis, GDP growth moderated sharply to +5.6% from first quarter's +6.9%. For the first half of the year, the economy expanded +6.3%. Growth...

China’s Economic Data Prove Economy Slowing Down. PBOC Could Follow FOMC in Cutting Interest Rate

Despite the mixed headline readings, China's macroeconomic data in May were in line with our view that the country's economy continues to slow. Growth in industrial production fell to 5% y/y, missing consensus of , and April's, 5.4%. IP growth in May marks the lowest growth since 2002. Moreover, this...

China’s Slowdown Resumes as Seasonal Effects Faded

Economic data in April prove that China’s economy is not yet out of the wood. Growth in industrial production , retail sales and fixed asset investment all surprised to downside, suggesting that the rebound in March was only due to one-off, temporary factors. Re-escalation of US-China trade war is...

China First Quarter GDP Growth Beat Expectations. Key Macro Data Rebounded in March, albeit from Low Base

China’s GDP expanded +6.4% y/y in 1Q19, same pace as 4Q18 but beating consensus of +6.3%. Major macroeconomic data showed strong rebound in March and exceeded expectations. Over the past weeks, data flow in China has already signaled improvement in China’s economy: Both headline CPI and PPI markedly recovered...

Chinese Economy Shows Signs of Stabilization in Late 2018. More Challenge Ahead

The latest set of macroeconomic data for China shows signs of stabilization. This could be attributed to the government's expansionary policies both monetarily and fiscally. While the government is expected to add more stimuli this year, the challenge remains tough. GDP growth eased to +6.4% y/y in 4Q18, from +6.5%...

PBOC Prone to Adopt Less Tightening as April Data Proves Slowdown Underway

China’s macroeconomic data was mixed in April. Industrial production (IP) expanded +7% y/y, accelerating form +6% in March and consensus of +6.4%. Retail sales grew +9.4% y/y, easing from +10.1% in March. The market had anticipated a milder drop to +10%. Urban fixed-asset investment (FAI) increased +7% in the...