Zeff The Great wrote a post · Aug 10, 2023 10:07

Chinese Inflation Data - Things aren’t that bad

China’s economic performance has been gloomy and generally below the market’s consensus. The National Bureau of Statistics of China had released July’s CPI , YoY -0.3% , a slightly bit better than market’s expectation of -0.4% . This is the first time China fell into deflation since early 2021.

Most of the news circulating out there were portraying this set of data badly , but the MoM increment in CPI was neglected by the market.

From the chart above , the CPI Index rebounded in July , coupling with the stimulus plans announced by the Chinese government during the Politburo meeting last month that will gove the consumer sentiment a boost , I opine that this may be the only month that fell into negative region for the year 2023

$SZSE COMPOSITE INDEX (399106.SZ)$ $SSE Composite Index (000001.SH)$ $Hang Seng Index (800000.HK)$ $Hang Seng TECH Index (800700.HK)$

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Zeff The Great

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