Urgh, no good news here from Australia: full-time jobs falling by 10.3k & part-time is falling by -8.7k.
So u bet that Australian households, who are already most indebted in Asia (and amongst the most in the world), won't go for a shopping spree. Low rates smooth the cycle but.
So u bet that Australian households, who are already most indebted in Asia (and amongst the most in the world), won't go for a shopping spree. Low rates smooth the cycle but.
China data comes out in 1hr for October (so Q4) and expectations are subdued, even for retail sales.
If the October loan data is anything to go by, well, November won't be great either. Help needed!
If the October loan data is anything to go by, well, November won't be great either. Help needed!
On this related note regarding rising CPI in China (3.8%YoY) on just pork alone while PPI further deflated, my pork cabbage bun tastes more cabbagy than usual. I mean, not complaining here as I think it's healthier but resto defo reducing margin compression from higher costs🤷🏻♀️🐷
Ouch. China fixed asset investment lowest since 1998 at 5.2% vs 5.4% previously. Retail sales slow too at 7.2% and IP much worse at 4.7%.
Meaning this is very bad news for the region as demand from China falters. Lending data suggests that Nov won't be better. Help needed!!!
Meaning this is very bad news for the region as demand from China falters. Lending data suggests that Nov won't be better. Help needed!!!
Details of fixed asset investment, which fell to 5.2% (note this is nominal so real worse).
Private investment falters to 4.4% from 4.7% - we know that this is the most productive sector of the economy & its not investing is bad news for productivity.
State sector rises gently
Private investment falters to 4.4% from 4.7% - we know that this is the most productive sector of the economy & its not investing is bad news for productivity.
State sector rises gently
Industrial production sags a lot to 4.7% from 5.8% & here are the details. Key sectors all slowed (manu + mining) except for power supply. No bright spot across the board except auto bounced a little.
OK, let's look at retail sales, which decelerated to 7.2% from 7.8%. Details👇🏻
Resto slows, consumer goods decelerates, clothing contracts; alcohol & beverages UP! So discretionary DOWN & essentials holding up (well, bev & alcohol debatable). Households tightening purse strings!
Resto slows, consumer goods decelerates, clothing contracts; alcohol & beverages UP! So discretionary DOWN & essentials holding up (well, bev & alcohol debatable). Households tightening purse strings!
