Jan-Feb 2017 Macro Data Recap

While the first output data of 2017 showed a mild acceleration of overall activity growth, inflation indicators flagged the potential end to China’s contribution to global reflationary trends. We also examine the surprising rise in foreign exchange reserves during the month, despite a monthly trade deficit, and highlight the significance of the next few months of credit data given ongoing PBOC tightening signals.

Posted August 1, 2017
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