Advertisement
Pantheon Economics with the note:
Stability and the Easing of Stagflation Risk in China
Chinese growth stabilised in November, as one crisis ended, and the policy response to another gained traction. The official manufacturing PMI rose to 50.1 in November, from 49.2 previously, handily beating consensus expectations, while the nonmanufacturing survey was broadly stable at 52.3, from 52.4 in October. Manufacturing is unsurprisingly faring better with a consistent energy supply, and construction is receiving some support from government infrastructure spending, offsetting the Covid drag on services.
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.
Advertisement