China – nominal momentum still weak

China – property prices weaker again

China – not just government boosting the credit impulse

China – exports up again

China – deepening deflation

China – structure of GDP shifting, but slowly

China – still looking like a soft floor

China – prices dragging down profits

China – two unusual features of the export transition

China – sharp drop in exports to the US continues

China – PPI pulls inflation down further

China – no recovery yet

China – heavy industry leading profits down

China – Q4 pick-up already fading

Public Post

China – still no sign of property momentum

After a clear improvement from September, property price deflation since December has settled at an annualised pace of around -1.5%. Sluggish mortgage lending isn't pointing to a further recovery from here. On these official data, average prices are now down 6% from the peak in 2021.