Independent Strategy

Tags: China

Chinese stimulus effects have already shown up with an improvement of the macro data, notably the manufacturing PMI surveys, but the real economy numbers have also bounced.  This improvement now also has official recognition, with the Chinese authorities shifting their economic assessment.

A solid set of credit numbers, suggesting the government is succeeding in reopening this transmission channel, which should begin to show up more notably in the activity and growth data from hereon in.

China

POST » 12th April, 2019 » China March Trade Balance

Larger than expected surplus and notable bounce in export growth.  But given the calendar effects of Chinese New Year it’s probably best to view February/March trade data as a single batch, thus smoothing these effects.

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