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JPMorgan index shows improved business scenario in China
By Hu Xiaocen |
October 29, 2012, Monday
|
Online Edition
Online Edition
CHINA'S business conditions improved in October on substantial uplift in the sentiment for banks and independent power producers as well as the consumer sector, industry report said today.
Business outperformed in China as JPMorgan Research Analyst Sentiment Index, a monthly measure of key industrial indicators, posted a jump from September's 48.5 to 61.2 in October leading by the banks, the investment bank said in a report today.
"The reading for October together with leading macro indicators such as the flash October manufacturing PMI, suggest that industrial activities continued to recover through October," Zhu Haibin, chief China economist and head of greater China economic research at the bank said.
"This reflects the impact of policy easing that has accelerated since May, including pick-up in infrastructure investment, fiscal expenditure, accommodative liquidity condition and monetary policy stance. In addition, stabilization in the housing market in recent months has also provided support to domestic demand. However, the weakness in the industrial corporate sector and fragile external environment remain the biggest risks in the road of economic recovery," Zhu said.
Business outperformed in China as JPMorgan Research Analyst Sentiment Index, a monthly measure of key industrial indicators, posted a jump from September's 48.5 to 61.2 in October leading by the banks, the investment bank said in a report today.
"The reading for October together with leading macro indicators such as the flash October manufacturing PMI, suggest that industrial activities continued to recover through October," Zhu Haibin, chief China economist and head of greater China economic research at the bank said.
"This reflects the impact of policy easing that has accelerated since May, including pick-up in infrastructure investment, fiscal expenditure, accommodative liquidity condition and monetary policy stance. In addition, stabilization in the housing market in recent months has also provided support to domestic demand. However, the weakness in the industrial corporate sector and fragile external environment remain the biggest risks in the road of economic recovery," Zhu said.
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