This in reference to the data from China earlier:
The move month alone m/m was -7.3%, extending its decline to a fourth straight month. But, October was -10% ,so a slower pace of fall in November.
The data comes via China’s National Bureau of Statistics (NBS). These industrial profit figures account for firms generating annual revenues of at least 20 million yuan ($2.7 million).
China is the world’s second-largest economy. It continues to face challenges in its post-pandemic recovery, including
- weak consumer and business investment
- a prolonged housing market slump
- and new trade risks associated with the incoming U.S. administration
- weak domestic demand
Recent economic data revealed mixed signals: industrial output grew in November, but home prices fell at their slowest pace in 17 months. Meanwhile, state-owned firms saw profits decline 8.4%, foreign firms recorded a 0.8% drop, and private-sector companies experienced a 1% fall during the first 11 months.
To counter these challenges, China’s policymakers have pledged to enhance economic support, including raising the fiscal deficit, issuing more debt, and loosening monetary policy. Measures include plans for record $411 billion special treasury bonds in 2024 and increased fiscal support for consumers and social security programs.
***
I posted a few posts on info from China over the break earlier:
- Chinese People’s Political Consultative Conference (CPPCC) on March 4
- China’s National People’s Congress will be held March 5, 2025