China | Slowdown on weak demand rather than supply issues
China’s official manufacturing PMI fell 0.4 points to 49.2 in October, while the non-manufacturing PMI dropped to 52.4, from 53.2 in September. High frequency indicators show further declines in housing sales in major cities and car sales. These indicators show that economic momentum in China’s industry worsened in October amid the downturn in residential real estate and continued impact from repeated Covid outbreaks.
Download the report to find out:
- What does China’s latest official manufacturing PMI survey tell us?
- Why are supply constraints not a paramount problem for China anymore?
- What’s our latest forecasts for China’s industry and GDP growth?
Tags:
Related Services
Post
Easing financial conditions offer CRE some respite
Our measure of financial conditions has become less restrictive in the US and started to loosen in the eurozone and the UK, reflecting investors' expectations that interest rates have peaked. This should aid the outlook for commercial real estate (CRE) on the margins, although the scale of past rate hikes, sluggish economies, and structural headwinds mean the sector still confronts challenging fundamentals.
Find Out More
Post
Eurozone key themes 2024 – A fragile recovery will gain impulse
After a year of stagnating activity, the eurozone economy will continue to struggle to gain traction in the near term given multiple headwinds. But we expect a gradual recovery in 2024 that will gather momentum as consumers regain some of their lost purchasing power and financial conditions ease.
Find Out More