China: Inflation data is the main release – Danske Bank
|Research Team at Danske Bank, suggests that the main release in China over the coming week will be inflation data.
Key Quotes
“Inflation has moved higher and, in particular, producer price inflation has seen a boost from the rise in commodity prices. We look for a further rise in PPI inflation to around 2%, which would add further to the global reflation theme, which we believe will be with us for the next couple of quarters.”
“CPI inflation is also moving higher but at an expected rate of 2.2% in November it is still far below the 3.0% target. China will also release trade data but they are very distorted and we do not put much weight on them. They are also very volatile and thus very hard to predict. Overall, we believe Chinese exports are picking up slightly as the currency has weakened and global growth has picked up. This picture is supported by rising PMI export orders indices.”
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