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CHINA PRESS: High-Frequency Data Improving In November

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

China’s high-frequency data suggests consumption will remain strong in November and December, according to Shen Jianguang, chief economist at JD Group, who highlighted 567,000 vehicles were sold between November 1-10, up 29% y/y, of which new energy vehicles increased by 70% y/y. Home-appliance sales are expected to benefit from new-home total square metre transactions in 30 large and medium-sized cities rising 7.3% between November 1 to 17, Shen added. However, authorities need measures to increase residents’ income to ensure a sustained consumption rebound, Shen continued.

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China’s high-frequency data suggests consumption will remain strong in November and December, according to Shen Jianguang, chief economist at JD Group, who highlighted 567,000 vehicles were sold between November 1-10, up 29% y/y, of which new energy vehicles increased by 70% y/y. Home-appliance sales are expected to benefit from new-home total square metre transactions in 30 large and medium-sized cities rising 7.3% between November 1 to 17, Shen added. However, authorities need measures to increase residents’ income to ensure a sustained consumption rebound, Shen continued.