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Global data flat to underperforming: China and US both weak
Global data on net are posting near consensus estimates, at minus 7 and just below the zero line on Econoday’s Relative Performance Index (RPI). Yet when excluding what have been as-expected to firmer-than-expected inflation data, the index less prices (RPI-P) falls to minus 18 to indicate modest underperformance in economic activity. In China, unexpectedly firm inflation news was not enough to lift either the RPI (minus 14) or the RPI-P (minus 40) back above zero. Still, the stronger tone to prices will help ease deflation worries and so reduces the likelihood of another cut in central bank interest rates. The US ... (full story)
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- Posted: Aug 9, 2024 4:34pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,537
