China Economic Update – August 2013
Partial economic indicators, although still subdued, provided some signs that the economy may be stabilising. Trade data were somewhat above expectations, including much stronger import growth pointing to improved domestic demand.
- Partial economic indicators, although still subdued, provided some signs that the economy may be stabilising. Trade data were somewhat above expectations, including much stronger import growth pointing to improved domestic demand. This was consistent with slight improvements in other partial indicators, although retail sales growth eased contrary to rebalancing efforts.
- We have maintained our expectation for China’s growth to stabilise in the second half of 2013 at relatively subdued levels as authorities press on with structural rebalancing efforts – partially offset by an improvement in export demand from major developed economies and policy fine tuning.
- CPI inflation remains well within acceptable levels, but policy makers are more likely to rely on money market operations, structural reforms, and policy ‘fine tuning’ to improve credit allocation and encourage growth, rather than monetary easing.
- This month we included a closer look at China’s financial liberalisation.
For further analysis download the full report.
- China Economic Update – August 2013 (PDF 283 KB)
About the Author
James joined NAB early in 2011 from the Reserve Bank of Australia where he worked for four years. He was involved in analysis of overseas economies and commodities, as well as business investment and residential property within Australia.
Before this, James taught economics at the University of Western Sydney, and was employed as an economic forecaster with Integral Energy.
He graduated from the University of Western Sydney (with first class honours in Economics) and was a recipient of the Honours Economic Society Award (HESA) in 2006. James also holds a Bachelors degree in Law.
At NAB, James is responsible for monitoring and forecasting the emerging Asian economies with a particular emphasis on China, and is also a member of the commodities team.
