Back
2 Mar 2015
Upbeat PMIs could support Chinese growth in 2015 – Danske Bank
FXStreet (Edinburgh) - In light of the recent results from the Chinese PMI, Senior Analyst at Danske Bank Flemming Nielsen believes these are supportive of a sustainable growth above the 7% for the first half of 2015.
Key Quotes
“The slight increase in the NBS manufacturing PMI in February is consistent with the slight improvement seen in the flash estimate for the HSBC/Markit manufacturing PMI, which also improved slightly in February”.
“This suggests the Chinese economy remains relatively subdued but with tentative signs of stabilisation”.
“Looking ahead, we still expect the Chinese PMIs to move moderately higher in coming months, supported by modest monetary easing, stabilisation of the property market and resilient exports”.
“In our view, the year-on-year GDP growth in H1 15 will remain relatively stable above 7% y/y, due partly to favourable year-on-year comparisons”.
Key Quotes
“The slight increase in the NBS manufacturing PMI in February is consistent with the slight improvement seen in the flash estimate for the HSBC/Markit manufacturing PMI, which also improved slightly in February”.
“This suggests the Chinese economy remains relatively subdued but with tentative signs of stabilisation”.
“Looking ahead, we still expect the Chinese PMIs to move moderately higher in coming months, supported by modest monetary easing, stabilisation of the property market and resilient exports”.
“In our view, the year-on-year GDP growth in H1 15 will remain relatively stable above 7% y/y, due partly to favourable year-on-year comparisons”.