There’s nothing new here, mainly a review of some of the week’s developments.
China Power Output Rises to Four-Month High as Industry Expands
China’s power output rose to the highest in four months in December
China Resources Output at Record Highs (WSJ – Gated, a news search on the headline may turn up something)
China turned out record volumes of oil products and crude steel last year, but falling growth rates for output suggest resource producers are adjusting to the new reality of moderating growth in the domestic economy.
China business sentiment picks up in January
Chinese business conditions improved in January, with new orders rising, in further evidence of companies re-stocking ahead of anticipated higher demand early this year.
The Flash MNI China Business Sentiment Indicator from MNI, a unit of Deutsche Boerse Group, found that expansion was gaining traction in January, rising to 54.94, from a final figure of 52.22 in December.
However, the financial positions index, which gauges corporates’ financial strength, sank to 49.67 from 50.89 in the final survey for December.
The availability of credit index also fell to 45.69 in January from 46.96 in December, and the production index fell to 53.08 from 55.37 in December.
official data earlier on Friday showing that China’s gross domestic product (GDP) growth rose 7.9 per cent year-on-year in the fourth quarter, and 7.8 per cent for last year overall,
China’s pleasant surprises may not last (Aust. Fin. Review – Gated, a news search on the headline may turn up something)
China’s growth continues to surprise on the upside, yet some strategists warn that the prospect of monetary tightening by Beijing could soon prompt a pull-back in global markets. Inflation has jumped from 1.7 per cent to 2.5 per cent in the past two months, and there have been predictions it will move towards 4 per cent, driven by pork prices.