China’s economy performed better than expected in August after 28 stimulus measures in three months. ANZ has upgraded its China GDP forecasts.
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China’s retail sales, industrial production and investment data for August was better than expected on Friday, says ANZ’s Chief Economist for Greater China Raymond Yeung.
Raymond now sees a soft landing in China as more likely and explains why ANZ has upgraded its GDP growth forecasts slightly for 2023 and 2024.
Raymond details how 28 stimulus measures since early June have softened China’s growth slowdown, including another RRR cut last week.
US industrial production data for August was better than expected, while consumer inflation expectations fell to their lowest level since March 2021.
The Fed is expected to hold on Wednesday night, while the Bank of England is seen hiking again on Thursday. The Bank of Japan is expected to hold on Friday.
Cheers
Bernard
PS: Look out for a deep dive tomorrow on future oil demand with Daniel Hynes.
