The Chinese economy performed better in the fourth quarter than in the previous three quarters. It is out of the question the government's full year growth target will be reached. However, uncertainties remain regarding whether the intrinsic drivers for growth next year can effectively offset the negative impact from gradually tightening property policies and likely slowing expansion in fiscal and monetary policies. We have to stay vigilant over the downward pressures on the economy.
China's Services PMI up to 53.4
The headline Caixin China General Services PMI was up 0.3 points from a month ago to 53.4 in December. The sub-indices of new orders, input costs and prices charged all went up. The Caixin China Composite Output Index came in at 53.5 in December, up 0.6 points from November and the highest levelsince 2013. Manufacturing and services both expanded in December, showing recovery in the economy continued.
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