QTC: China – industrial prices stable despite property
![QTC: China – industrial prices stable despite property](/content/images/size/w600/2024/07/China--10D-building-material-and-industrial-good-prices--Index.png)
The collapse in property market activity is showing up in sharply lower prices for building materials: they've now fallen by 50% from the peak. But overall industrial prices haven't fallen in the same way, and continue to point to PPI inflation of around 0%.
QTC: Japan – services PMI stronger again
![QTC: Japan – services PMI stronger again](/content/images/size/w600/2024/07/Screenshot-2024-07-24-at-11.02.42-AM.png)
Some lessening of confidence in June made sense given the fall in the JPY, but last month's sharp drop in the services PMI still seemed overdone. In July, it rebounded back to a strong level, with the commentary highlighting rising employment and capacity pressures.