China Economy

From Westpac’s Huw MacKay: The Westpac MNI China Consumer Sentiment Indicator, hereafter the Westpac MNI China CSI, was essentially unchanged in November, printing 111.0 versus 110.9 in October, a +0.04% change over the month and –10.3% over the year.

From Reuters: China’s central bank will wait until fourth-quarter economic data is out and monitor U.S.

From Gavekal’s Chen Long via FTAlphaville: The crucial question is how the new easing cycle will affect credit growth and economic growth.

Late yesterday I looked on as another talking head declared a Chinese hard landing was off at Gina’s mining newsletter: Graham Harman, Russell Investments’ Asia-Pacific strategist, said that China’s policy move fit neatly with the ‘bad news is good news’ mentality of investors.

From Society Generale’s Wei Yao via FTAlphaville on the Chinese rate cut:   …due to the further rate liberalisation announced at the same time, there is actually no de facto rate cut.

Gina’s mining newsletter couldn’t wait to get its teeth into this one: “Top leaders have changed their views,” said a senior economist at a government think-tank involved in internal policy discussions.

During the awful Chinese October data dump, I had this to say: One wonders if said target isn’t about to be cut, along with 2015 GDP and, possibly even reserve ratio requirements.

From Danske Bank: While it was clear that there was a slight easing bias in monetary policy in China, the interest rate cut was nonetheless a bit of a surprise.

By Leith van Onselen More evidence of the Chinese economy slowing this afternoon, with the HSBC Flash China Manufacturing Purchasing Managers’ Index (PMI) for November registering a fall, decreasing to 50.0 from 50.4 in October – a six month low.

I’m at the Melbourne Economic Forum today with the hoi poloi and the following presentation by Professor Peter Sheehan on the radical Chinese response to its pollution shock has just been presented.

I gave the AFR a hard time the other day when it reported that Chinese property is turning.

Fresh from Reuters, all China October new home prices were down -2.6% year on year, from -1.3%in September: If you think that looks ugly, that’s because it does.

Cross-posted from Investing in Chinese Stocks.

China has just released its October economic data dump and the news is more fading partials.

Cross-posted from Investing in Chinese Stocks.

From JCapital’s Anne Stevenson-Yang via FTAlphaville: The reality of employment in China is that no one actually counts it, and the popular idea that the Chinese nomenklatura worries day in and day out about creating jobs is simply false.

Cross-posted from Investing in Chinese Stocks.

Cross-posted from Investing in Chinese Stocks.

Over the weekend, China released its October trade data and it was mixed versus expectations.