China deflation at least doesn’t get worse

Wednesday, 14 October 2015

China is out with its September inflation numbers and the news is subdued with CPI in at 1.6% versus expected 1.8% expected. The more important (for Australia) PPI is in at -5.9% bang on expectations and the same as last month:

As I have explained before, the PPI is a very good leading indicator for the industrial economy upon which Australia depends. Not getting worse is something to hold onto.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.