MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

MNI BRIEF: Brazil Annual Inflation Rises To 4.87% In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Analyst Views On May Economic Activity

MEXICO
  • Scotiabank notes that during H124, economic activity has performed at a slower pace than expected, as the impulse from higher fiscal spending has disappointed. By sector, manufacturing is facing a period of slow advances, while construction will grow at a strong, but slower pace owing to the change of administration in public projects. Services have been more resilient, although recent data show signs of moderation, in line with the drop in formal employment and slower remittances.
    • In the coming months, Scotiabank believes that the pace of economic activity could continue to moderate amid slower consumption and greater uncertainty that could impact investment, leading to further downward revisions in growth expectations for this year.
    • Meanwhile, BBVA expects economic growth to fall below prevailing market expectations. They note that the agricultural sector continues to struggle, primarily due to tough climate conditions, while industrial activity in June is expected to remain unchanged, further exacerbating the deceleration of the economy.
    • As noted earlier, the latest Citi economist survey revealed a moderation in analysts’ GDP growth forecasts to 1.9% this year and 1.5% next, while CPI estimates edged up. Focus now turns to tomorrow’s bi-weekly CPI data, set to show a further rise in headline inflation.
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