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Macro Analysis

Macro Focus: Unveiling China’s macro dilemmas and policy choices

China’s 2020 stimulus was modest. The country’s leadership learned the lessons of the 2009 giga stimulus and the imbalances that stemmed from it. More importantly, we show in this piece that the focus has shifted from credit control/guidance – both traditional and non conventional – to other policy instruments. The main candidate for these new policy instruments is fiscal policy. This should translate into a continuation of the substitution of private debt by government debt going forward.

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Macro Flash

Macro Flash: China CPI and PPI for March 2021

China’s Consumer prices in March 2021 increased by 0.4% year-on-year and decreased by 0.5% month-on-month. China’s Ex-factory prices of industrial producers in March 2021 increased by 4.4% year-on-year and 1.6% month-on-month.

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Macro Analysis Premium

Macro Focus: Economic Impact of the $1.9 trillion American Rescue Plan

An unprecedented fiscal support As of April 2021, the United States leads by a wide margin the Discretionary Fiscal Response […]

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Macro Flash

Macro Flash: US Jobs Report (March 2021)

According to the report released on Friday, April 2 by the U.S. Bureau of Labor Statistics (BLS), total nonfarm payroll employment rose by 916,000 in March, and the unemployment rate edged down to 6.0 percent. As per the BLS, “These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic.” Job growth was widespread across the different sectors in March, with notable gains in leisure and hospitality, public and private education, and construction.

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Business & Geopolitics Business Intelligence Commodities MENA ENG Oil

Business & Geopolitics: The China-Iran strategic partnership

As summed up by the New York Times, “China agreed to invest $400 billion in Iran over 25 years in […]

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China Macro Flash

Macro Flash: China Economic statistics (Jan.-Feb. 2021)

From January to February, due to factors such as the low base in the same period in 2020 , the year-on-year growth […]

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China ENG Macro Analysis

China: Key takeaways from the Government Work Report for 2021 (政府工作报告)

Premier Li Keqiang first outlined the measures taken by the Chinese government in the context of the Covid-19 pandemic whose […]

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Japan Macro Flash

Japan: Consumer confidence Survey (February 2021)

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Macro Flash

US Employment situation: February 2021 (BEA)

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Macro Flash

China: Financial Statistics Report for February 2021 (PBC)

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