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Chief Economist Confidence Index Unchanged - Yicai


China’s Chief Economist Index printed at 50.89 in January, unchanged from last month and above the expansionary mark of 50.0, Yicai news outlet said. Regarding data releases for December 2023, surveyed economists' average forecast for CPI was -0.34% and PPI -2.71%. Economists expect retail sales grew 8.05% y/y with fixed-asset investment up 3.08% y/y, offset by a fall in real-estate investment at -9.07% y/y. Ding Anhua, chief economist at China Merchants Bank expects the PBOC in 2024 will focus on reducing real interest rates with two RRR and two MLF rate cuts. For fiscal policy, Ding predicts the fiscal deficit to start at 3.0% but will later expand to 3.6% after the issuance of additional treasury bonds.

MNI Beijing Bureau |
MNI Beijing Bureau |

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