Business Research & Insights

China’s recovery lost momentum in Q2 and the outlook for the second half remains cloudy

Any significant change to global supply chains will take time

Weakness in domestic demand led to underperformance in May

Is China finding new markets for its exports?

Reports of a property rebound appear premature

Base effects inflate growth in April; still waiting on demand to recover

Services sector supports growth rebound in Q1, as base effects boost consumption

Tentative recovery: Chinese outbound tourism continues to face constraints

Modest reopening rebound in early 2023 with consumers yet to re-emerge

Step down: China’s cut its growth target to a multi-decade low

COVID’s rapid spread may allow a faster economic rebound in 2023

Transition away from zero-COVID could boost growth in 2023, however needs to rebalance towards consumption

Latest COVID-19 wave impacting activity in Q4; COVID policy pivot could provide boost in 2023 (after transition period).

US chips controls could constrain China’s tech development goals

China refines, not abandons, zero-COVID and remains without an exit strategy

Could Xi Jinping extend his leadership beyond his third term?

Growth rebounded in Q3, but base effects flattered the results

Vicious cycle: falling land sales hitting local government revenues

Buyers fight back: Mortgage strike points to property sector’s weak underpinnings

Base effects flatter August’s growth rates, as a fresh COVID-19 wave threatens outlook

Reopening rebound limited by weakness in domestic demand and credit appetite

Walking away? China’s ambitious growth target has moved too far out of reach.

COVID-19 measures hit China’s economy harder than expected in Q2, and present downside risk to the outlook.

How will the US respond to China’s failure to meet its trade commitments?

COVID-19 uncertainty continues to cloud China’s economic outlook.

Low cost outlier: China’s consumer price growth has remained weaker than most international peers.

COVID lockdowns point to weaker growth and greater uncertainty in the near term.

The COVID-19 pandemic could accelerate China’s long term demographic pressures

Follow the money: The strength of China’s outward foreign investment during pandemic raises questions.

COVID outbreaks dampened growth in March, and cloud near-term outlook.

COVID and energy prices present sizeable risk to China’s ambitious growth target.

China’s outsized property sector presents a major drag for growth in 2022.

Dynamic clearing – shifting the message rather than broad policy towards COVID-19.

China enters 2022 with relatively weak momentum and considerable uncertainty.

November data show little underlying improvement from October’s weakness.

Spreading the wealth: Common Prosperity may start to address inequality in China.

Partials point to a weak start to Q4, with production and retail soft and investment contracting.

To the market: China’s power crunch is forcing much needed energy reform.

A series of crises stalled Q3 growth and present downside risk to the outlook.

Debt bomb – managing the fallout from Evergrande will be a key challenge for Chinese authorities.

COVID restrictions hit retail in August, building on existing imbalances in China’s economy.

China’s Delta outbreak likely to slow growth in the near term

Approaching the peak: China’s long-term coal consumption looks set to decline.

China’s economy grew largely as expected in Q2, but imbalance between production and consumption persists.

One, two, three: Can China counter its demographic drag by raising its birth rate?

Buyers beware: China’s consumers have remained subdued during the COVID-19 recovery.

Growth slowing as base effects wash away; consumers continue to lag industry.

Smaller base effects meant smaller growth rates in April but retail sales are still lagging.

Buy, buy, bye: political tensions could impact Australia’s trade relationship with China.

Quarterly data point to weak start to 2021, but signs of consumers returning is positive.

Don’t forget about me: lower skilled workers could be left behind by manufacturing’s evolution

Don’t be fooled by surging annual growth rates – momentum is set to slow across 2021.

Digital divorce: forces are pushing for a technology split from China.

Meet the new boss: a Biden Administration doesn’t mean a return to Obama-era China policy.

China’s economy enters 2021 with momentum, but expected to slow across the year.

What do alternative indicators suggest about China’s COVID-19 downturn and recovery?

China’s consumers finally remerging

Consumers gradually returning to the market, with China still reliant on industry.

China looking inward as the external environment has deteriorated.

China’s recovery remains industrial led, but consumers are finally emerging.

COVID-19 put the brakes on already stalling foreign investment.

Will Chinese manufacturers lose in the post-COVID world?

China’s industrial sector still driving the recovery, with consumers lagging.

China’s old economy drives growth to unexpected high in Q2.

Suppliers are still searching for demand.

The US President has said the US needs to get back to work, vaccine or not.

The latest economic data from China continues to highlight some challenges in its recovery phase.

China’s economy sharply contracted in Q1; weakest growth in over forty years in 2020.

Back in business? China attempts to restart its economy after Covid-19 shutdown

The government has introduced travel restrictions on arrivals from mainland China and advised Australians to avoid travelling to China because of the novel coronavirus.

China’s ends 2019 in line with expectation.

China’s industrial sector appears to have stabilised ahead of new trade deal.

Janari Tonoike, head of NAB Japan Securities Limited, National Australia Bank’s (NAB) new Tokyo-based, wholly-owned subsidiary, showcases the long-standing relationship between Japan and Australia, and explains how the new entity can help investors and borrowers in both markets and beyond connect better in a challenging global business environment.

Most of China’s indicators relatively weak year-on-year, however, the 70th anniversary of the founding of the People’s Republic of China at the start of the October has made this harder to gauge.

Now is an optimal time for Asian investors and contractors to explore Australia’s thriving infrastructure sector.

Trade truce – US and China reach an agreement, but trade outlook still uncertain.

Taking flight: China is changing the global tourism market.

Trade war finally shows its impact on China, as industrial sector drags Q3 growth lower.

Pork shortfall to maintain higher inflation in the near term.

India’s economy needs a stimulatory kick start, with no guarantees of recovery.

China’s industrial sector struggling ahead of the latest round of trade measures.

China’s economy is continuing to slow, even before the latest round of US tariffs (and China’s retaliation), meaning there’s further downside risk.

How successful has China’s deleveraging program been in managing the country’s debt?

Growth slowed in Q2 but policy support should see it stabilise.

Panelists at NAB's annual DCM conference discussed the ideal confluence of demand and supply in the Asia Pacific (APAC) region, which is home to some of the worlds fastest growing economies.

Investing in infrastructure is a long-term trend that will continue to endure global economic challenges, generating healthy returns and diversification opportunities as investors enhance focus on environmental, social and governance (ESG) factors.

The rising global stature of Asian investors and their search for fresh avenues to deploy their expanding wealth is aiding the growth of new markets.

Policy makers ready to stimulate as signs of weakness grow.

Can China weaponise rare earths to open a new front in the trade war?

Trade risks realised.

Looking for work: the health of China’s labour market is still hard to ascertain.

Weaker economic trends even before trade tensions heat up again.

Australia offers Asian investors portfolio diversification in a stable economic and political environment.

Credit surge keeps growth stable in Q1, but will the taps stay on?

Crashing cars: how deleveraging has hit China’s automotive sector

Year of the Pig brings an uncertain outlook

China’s economy continues to soften, but our outlook is unchanged.

Turning 40: Charting the rise of China since reform and opening up

Hands in pockets: Chinese consumers are confident but that doesn’t show up in retail sales data

China’s consumers aren’t ready to drive the economy’s growth.

Recent tariff announcements are a modest negative for growth in US and China although Chinese policy will look to offset the impact.

China’s trade relationship with the European Union.

The global boom in SMEs in a world hungry for quality Australian goods and services is creating opportunities for local businesses prepared to look beyond their own backyard.

When BJ Plummer was handed the reins of acclaimed Tasmanian smoked seafood producer Woodbridge Smokehouse, he was instructed not to ‘mess around’ with the brand. We spoke to Plummer about his strategy, which has seen export revenue grow a whopping 1,300 per cent in just three years.

Risk to world growth from trade tensions escalating.

NAB’s USD non-rural commodity price index declined by over 3% q/q in Q2 2018. This only partially reversed the large gain made in the previous quarter and, as a result, it is still 7.5% higher than a year ago. The fall in Q2 mainly reflected a decline in iron ore and metallurgical coal prices, although LNG export prices – linked to the price of oil – rose.

Do you own a small business that’s selling overseas or importing products and equipment into Australia? Trade finance can help you make the most of opportunities without tying up your valuable working capital.

While many city dwellers see farming as old-fashioned, Kim and David Coulton and family of Morella Agriculture know it’s all about cementing market share by staying on top of the science and technology curve.

President Trump has been making headlines with peace treaties and trade pacts, but what if they don’t happen? North Korea has threatened to pull out and now the President is saying the China talks may not be successful.

The continuing rise in oil prices and rising bond yields in the US – where they have tipped the 3% yield mark again.

Keen to export to Asia? Make sure you understand what’s involved and how best to prepare.

With 1.2 million visitors injecting $10 billion into the Australian economy each year, and almost one third of our international students now coming from China, Chinese custom is big business. Alibaba Australia’s MD explains Alipay.

From June 14 to June 25, I’ll be leading NAB’s 2018 Agribusiness Japan Tour. If your business involves cattle farming, sheep farming or horticulture and you’re interested in the connections, insight and strategies being used to succeed in Asian markets, I encourage you to join me.

Agromin Australia is expanding its exports by sticking to what it knows best – pulses for the Indian subcontinent. Owner Rajni Patel explains how the company is cornering a larger and larger share of the market for Australian farmers.

Can China maintain its stable growth profile as trade tensions increase?

Brothers Hamish and Gavin dreamed of taking their Aussie backyard turf company big and supplying world-class stadiums. Today they’re internationally recognised suppliers in their field.

Fourth-generation Australian winemaker Colin has spent 50 years among the vines and says there’s no place on earth he’d rather be.

The grandeur of Australia’s wool industry is visible in the huge old wool stores standing tall all over our cities. Moses & Son’s Martin Moses wants Australian wool to rise again – and says the next generation of sheep farmers has the power to take on the world.

Stability in financial markets over 2017 and early 2018 came to abrupt end in recent weeks, with a surge in market volatility and big falls in equity markets and prices for many commodities.

The RBI held the benchmark Repo rate at 6% at its February meeting. This decision was in line with expectations.

With a 60-year domestic and international success story already behind them, it comes as no surprise that family-run Nolan Meats has very definite ideas about how to launch a successful push into the Asia Pacific region.

After two years of dead-end phone calls to Asian supermarkets, Lively Linseed’s Jacqui and Chris Donoghue overcame the challenges to find direct-export success.

China’s official data may underestimate the strength of growth in 2017.

The growth of the Reg S bond market has been one of the defining trends of the Asian capital markets in recent years. Driven by the seemingly unstoppable rise of Asian wealth – especially deep-pocketed Chinese investors – US dollar bond sales in the region no longer depend on the participation of US institutions.

Fleur Studd and Jason Scheltus saw a gap in the Melbourne coffee market for a quality speciality coffee product that could be traced back to its producers.

2017 was marked by a return to stability following the volatility of recent times and the rise of innovative new products, especially in the green and social sectors.

Japan is arguably Australia’s most important Asian ally, and its large market of wealthy consumers is a natural target for Australian businesses selling high-quality goods and services. Here are some tips to help you establish successful business relationships.

Uneven flows – how distortions in China’s data paint a very different picture of global trade.

The Indian economy accelerated in the September quarter, recording a 6.3% yoy expansion.

The regional US$ Reg S bond market has become one of the fastest growing debt capital markets worldwide.

Jim Barry Wines says there’s no need for Aussie agri brands to compete against each other – all have a place in a modern consumer’s diet.

The craft beer industry has exploded in Australia. Four brewers explain what’s driving demand, where the sector is headed and what others entering the industry might consider.

As Australia moves beyond the mining boom, we need to secure new sources of growth to ensure our future prosperity.

This independent report for National Australia Bank (NAB) by the Crawford School of Public Policy at The Australian National University, examines the outlook for the South Korean economy and its growing importance in the Asia Pacific region.

A shopfront to the world: how Amazon’s arrival could spell opportunity for Australian retailers.

Indicators point to marginally softer conditions post China’s leadership change

There were very few consistent themes across the commodity complex this quarter.

Changing of the guard - what does China’s new leadership mean for its economy?

Increased global liquidity, Asia’s growing wealth and the rise of the regional investor base have made the US$ Reg S market an increasingly important source of funding for Asia Pacific issuers. NAB sees US$ Reg S issuance from Australian corporates tripled from 2016 to 2017, with ample room to grow.

The NAB Rural Commodities Index rose 2.1% in October, its first monthly gain since May.

The Indian economy has slowed considerably since the first half of 2016.

China’s stable growth continued in Q3, but supported by another credit binge.

Repurposing an old tool – a new life for the Required Reserve Ratio.

China’s old economy surprises on the downside, may point to weaker Q3 growth.

Another concern for the RBI has been the jump in core inflation (inflation excluding food and fuel).

Tightening the purse strings – China’s foreign investment is slowing in a more closely regulated environment.

All eyes on China’s steel sector.

In just a few years, Marie Piccone has revived the fortunes of three mango plantations and the once-renowned Manbulloo brand. A careful strategy built on meeting customers’ demands is what got her there.

Superfoods can mean super profits. But which ones are gaining the attention of Australian farmers?

The Indian economy decelerated in the June quarter, growing by 5.7% yoy, the lowest since March 2014.

As Australia’s most important trading partner, China is one country your business probably shouldn’t ignore. We share tips to help you get started.

Chinese data generally weaker in July, returning to trend after strong June

Unwinding road ahead – weaker Chinese producer prices providing headwinds for advanced economy inflation

The July NAB Monthly Business Survey showed a continuation of the strong run enjoyed by the business sector. Business conditions rose to their highest level since early 2008, while confidence also strengthened.

The pick-up in market price action has continued overnight in FX markets. For the AUD, it’s now pretty much all about the Guy Debelle speech today.

Old King Coal – coal still a big part of China’s energy mix but its role is on the wane

Steady as she goes – economic growth and other key indicators stable in Q2.

Revisions to real GDP growth forecasts this month largely reflect a stronger than expected rebound in coal exports following disruptions from Cyclone Debbie in Q1. Further out, we have not fundamentally changed the tone of our outlook.

Fifteen years ago, two separate groups of enthusiastic investors and abalone farmers set out to secure a footing on the global stage. It wasn’t until they joined forces in 2008 that everything changed and the farms, within the space of nine years, went from individual 70-tonne entities to being the biggest producer of abalone in the southern hemisphere.

In May, international ratings agency Moody’s announced a downgrade for China’s sovereign credit rating, citing the country’s rising debt as a key factor in this decision.

A new partnership between Monash University’s Food Innovation Centre and China’s largest food processing organisation, COFCO, is aimed at helping Australians better understand the Chinese retail environment.

Fifty years ago Australia’s main export market was the United Kingdom, shipping wool and wheat. Today over 83% of all Australian exports are going to Asian countries. Nuts and grains – specifically, nuts - are climbing the ranks of top exports.

Many farmers take control of their supply chain but few market the benefits to customers as successfully as Australian Grain Link. Over the past 16 years this strategy has helped them carve out lucrative specialty niches that show no signs of shrinking.

The NAB Monthly Business Survey was a little softer in May, but still points to a healthy business sector. Business conditions are elevated and confidence is holding up above long-run average levels.

Trends stable across the board, no sign of a major economic slowdown.

Belt and Road Initiative – can the reality of the program meet China’s grand ambitions?

Key indicators a little softer in April, pointing to easing economic growth in Q2.

Remember the Chinese gooseberry? Not so much. Not until it turned into the kiwifruit and began turning up in fruit salads everywhere. Meet the man introducing ancient Australian bush tucker to global foodies as ‘lime caviar’.

Economy regained its footing over 2016 GDP. It grew in each quarter in 2016… the first year this has occurred in since 2005.

Short term spike in coking coal masks softer trend for bulks.

China’s income inequality improving but still some long term challenges.

An improving US-China relationship provides a better environment for China’s economy.

In March, the NAB Monthly Business Survey results pointed to an overall healthy economy that is gaining momentum, at least in the near-term.

Prime Minister Turnbull visits India after important economic reforms.

This May 13-23, I will be leading NAB’s Agribusiness China Tour 2017. If your business involves cattle, sheep or wool, I encourage you to consider joining me.

Rise of the machines: could automation help sustain China’s long term growth momentum.

While the health and aged care business stream attracted 130 Australian delegates and almost as many Chinese attendees at the first day of talks in Beijing, a planned mining stream was scrapped due to low interest.

More Chinese tourists are starting to prefer free independent travel over group tours, according to data from Tourism Australia.

Australian businesses in the healthcare sector are well positioned to capitalise on significant changes in the Chinese healthcare system as major demographic shifts unfold in the world’s second largest economy.

In February, the NAB Monthly Business Survey moderated from the surprising strength seen in January, but remained consistent with a relatively robust view of business activity and investment behaviour in the near-term.

China’s rapid economic development and urbanisation have had a major impact on the health of city-dwellers. Changes in diet and lifestyle have triggered an increase in the incidence of chronic ‘western’ illnesses such as diabetes and coronary heart disease. And, while greater wealth, improved living conditions and access to better medical care are extending lives, an ageing population brings its own set of challenges.

An encouraging start to 2017 – although strength still comes from the old economy, with retail trends disappointing.

How many of some of Australia’s most innovative entrepreneurs does it take to catch a cab? If that cab is in Beijing, it seems quite a few.

For Matt, beer is liquid gold that will always go some way to curing what ails you. However, it’s the social aspects behind it that he believes is the real cure.

It’s one of those stories you read about and wonder if it’s true – how a business started out with a small offering and grew into an industry leader.

The International Monetary Fund expects India to retain and strengthen its recently acquired tag of being the fastest growing economy in the world.

The China Australia Free Trade Agreement (ChAFTA) is a source of significant optimism for many of our business clients, most notably our small and medium sized business clients who are the key employer base in Australia and who generate a significant percentage of our country’s economic activity.

Whether Australian businesses realise it or not, China’s e-commerce giants are clearly jostling for the best position to take advantage of Australian products and services.

Business surveys and measures tracking the volume of activity suggest that the global economic upturn lifted a notch toward the end of last year and that trend seems to have continued into early 2017.

Brighter signs suggest moderate global reflation continues

As an exporter, you’ll want to take advantage of any reduced costs that come your way. Free trade agreements (FTAs) do just that – and will make certain markets more attractive than others because of the greater opportunities for your business.

Asia’s accelerating meat demand and its proximity to Australia and New Zealand should place meat and dairy export heavyweights in good stead.

When Careline first entered the international market place with their infant formula products, they faced some very tough competition and had not yet developed relationships with big local distributors. Now, they can successfully boast China as one of their main export markets, along with Thailand, Singapore, Macau and Hong Kong.

From a political perspective, President Trump’s decision to withdraw from the TPP reflected US sentiment against globalisation, particularly in the mid-west rust belt.

Exporting goods and services to an offshore Asian market might be the next step to growing your business – and pricing will be vital to your success. Get it right and you’ll become established and make a profit.

Here are 11 tips for success in China which Mr Montgomery shared with the health and aged care business stream of the Australia Week in China conference in Beijing.

Australia’s Free Trade Agreements (FTAs) can have a significant impact on businesses sourcing materials from Asia, or elsewhere around the globe. It can make it easier, cheaper and faster for both you and the business you’re buying from.

If you’ve been thinking about improving the efficiency of your importing or exporting business with Australia’s largest trading partner, here’s a more efficient way to settle trade transactions in China.

China records a comparatively strong finish to 2016, but Trump trade uncertainty adds downside risk to our moderate easing forecast for 2017.

Re-building the US industrial base, aiming to “massively increase jobs, wages, incomes and opportunities for the people of our country” is the principal economic objective of the Trump Presidency.

After a hard day’s work, sometimes it’s easier to just phone and order a pizza - one with say, scrambled eggs and potato on top? What might sound to the average Australian as an interesting choice of topping, is actually Domino’s Pizza’s most popular product in the Chinese market.

A free trade zone to expedite Australian food exports into China may soon become a reality. NAB’s Chief Customer Officer believes it’s a game changer for Australian agriculture.

Australian businesses, especially SMEs, still have a lot to learn about China’s burgeoning e-commerce opportunity, says Alibaba’s Director of Business Development John O'Loghlen.

Australia is ranked the most favourable country to conduct business by Chinese business leaders and business engagement between Australia and China is expected to increase over the next 12 months, a new report has found.

Steve Lambert, EGM Capital Financing, explains, innovation and volatility again dominated 2016. Markets were challenged by social, political and economic events which brought about new opportunities for our customers. We delivered insights and solutions to help them face into the increasing environment of disruption and regulation.

After suffering through two droughts in 10 years, the fortunes of Central Queensland cattle stud Olive Brahmans turned around when they met a Thai investor interested in their Brahman cows.

China is similarly an important market for US producers, being the country’s third largest export market in 2015

Global economic growth remains moderate with a sub-trend pace of GDP expansion set to continue.

China’s trade surplus narrowed in November, as a strong month-on-month rebound in imports narrowed the gap.

Kangaroo broth, macadamia milk, river mint – a new initiative plans to put a premium spin on native Australian foods and take them to the world.

The trade minister said it was a good time for Chinese businesses to take advantage of low prices in the resources sector to position themselves for the upswing in resources, oil and gas.

Your business can benefit by getting the FX solution that best suits your needs.

Our outlook for agricultural production is highly reliant on the climate outlook

Since the middle of 2015, the seven-day Shanghai Interbank Offered Rate (Shibor) has been unusually stable – when compared with the extreme volatility in this market over the preceding five years.

In 2015, JT Johnson & Sons, a fourth generation family business selling ruminant animal pellet feed and hay, celebrated its 20th anniversary with Japanese joint venture partner Asahi.

Imagine 800 million buyers at your door.

Think ‘China’ and do you think of massive competition or massive potential?

By 2050, demographers say close to 40 per cent of China's population will be above 60. But what is a worrisome burden for the Chinese government and families, is also an opportunity for Australian businesses.

For the seafood division of the Craig Mostyn Group, one of Australia’s leading food and agribusiness firms, the fastest growing pillar is the export of live southern rock lobster and abalone into the Chinese luxury wedding market.

China’s economic stability continued into October, however President Trump poses downside risks to the outlook

While the 24-hour news cycle may talk down Australia’s transition from a commodity to service economy, the figures tell a different, and very positive, story.

Following the severe earthquake this morning in South Island NZ, the Wellington CBD is out of action including the BNZ Harbour Quays building. BNZ Markets will be operating from Auckland / Christchurch and DR sites.

Monthly business survey readings provide the most up to date measure of the pulse of global economic growth – and they have been improving in the months leading up to October.

Whether you’re currently exporting to Asia or merely thinking about it, a wealth of Australian Government and state support, subsidies, and grants are up for grabs. Taking advantage of any grants, subsidies, support or assistance on offer can help your business expand into overseas markets.

Research has identified that the Australia-China economic relationship is broader than previously assumed, with considerable new growth opportunities for Australian businesses in agribusiness, manufacturing, real estate, tourism, education and finance and professional services.

Cindy Batchelor, Executive General Manager NAB Business presents the best ways to take your business online.

China faces some interesting healthcare challenges over the next few decades – and Australian companies are well placed to be part of the solution.

If your business needs to import raw materials or goods, there are a few bases you’ll have to cover to ensure you’re importing within the law. You can’t simply import anything; some items are illegal while others are banned from certain countries.

Australian Agribusinesses are beginning to realise the advantages of our geographical proximity to Asia and the tremendous economic benefits it will bring.

China’s economy continued to track sideways – but weaker real estate could cool conditions in Q4

Ahead of today’s welter of Chinese GDP and activity data, the AUD is trading this morning almost bang on where it was yesterday afternoon.

The more favourable USD has been a source of support for most commodity markets in the first half of 2016, but heightened uncertainty has seen additional volatility across financial markets, including commodity markets, more recently.

Having just returned from a client tour this past week in the Riverina in southern NSW, there was also one topic that is currently front and centre for local farmers, and that was “rain”.

Growing a sustainable export business requires vision, knowledge, planning – and funds. It’s a costly endeavour that demands exceptional management of your time and resources.

Warning signs for China’s financial sector don’t guarantee crisis

The bigger picture – A Global and Australian economic perspective

Global growth still not lifting off.

No surprises in the latest data, weaker real estate sector leads to a softening in the growth profile

It has been a relatively quiet night for markets with the moves in GBP probably the major highlight. BoE Governor Carney faced the Treasury Select Committee in parliament and was quick to give himself a nice pat on the back for the bounce in business and consumer surveys in August.

China’s slowdown has hit export dependent East Asia

A rebound in real estate investment, new construction activity and industrial demand for related products – such as steel and cement – helped to underpin economic growth in the first half of 2016.

With Asia estimated to account for two thirds of the global middle class economy by 2030, northern Australia’s potential for agricultural expansion to meet the impending demand is being examined.

Despite decades of change, China’s State-Owned Enterprises (SOEs) are a specific segment of the economy that still requires substantial reform.

Uncertainty around the outlook for commodity prices has ramped up further in the wake of the recent Brexit decision.

China’s longer term growth prospects are dependent on a range of economic reforms – critical to supporting the broad based productivity growth necessary to offset the negative demographic effects from the country’s declining working aged population.

China’s construction rebound underpins industrial activity but also presents uncertainty going forward.

Australia and Singapore have further strengthened their already very close economic relationship with the May 2016 announcement of reforms to their main bilateral economic relationship

Construction activity continued ramp up in April, but we are concerned about the sustainability of growth.

A credit-fuelled rebound in China’s construction activity has breathed new life into the country’s beleaguered steel industry.

NAB surveyed Australian business integration with East Asia in September 2014 and China in December 2015. Recent headline trade data indicate a reversal in the decades-long process of growing integration with our region as exports have declined.