Category Archives: Data

China May FAI figures disapponted

Overnight China reports disappointing fixed asset investment (FAI) figures.  Nominal FAI declined to 7.5% YoY in May from 10.1% YoY in April.  The leading indicator, FAI project new starts growth, also decelerated to 19.1% YoY in May from 35.5% YoY in April.  I would interpret the slowing is mainly due to the CCP realized the… Read More »

China holds up edge in global export market

I don’t buy in the argument that China depreciates its currency to lift its “slowing” export and GDP growth.   True, China faces significant export challenges as the competitors depreciate their currencies as if there’s no limit, and China also has its own problems such as high single digit wage growth.  However, China has held up… Read More »

China manufacturing PMI disappointed but indicates better expectation

China’s NBS manufacturing PMI disappointed at 49.0 in February, extending a seven-month contraction and touching a seven-year low (Consensus: 49.4). The decline was led by a moderation in new orders (48.6, previous: 49.5) and production (50.2, previous: 51.4). The disappointing PMI reading was also accompanied by a deterioration in employment conditions (47.6, previous: 47.8) and the import index… Read More »