18 Jun 2014
China: MNI business sentiment climbs again in June - Nomura
FXStreet (Bali) - Zhiwei Zhang, Economist at Nomura, reports on the latest Chinese data, which saw China's MNI business sentiment index continuing its upward tendency.
Key Quotes
"The China MNI business sentiment index continued its rise, reaching 55.0 in June from 53.7 in May – in contrast with an average 3.8 percentage point drop for May-June over the past five years."
"The improvement supports our view that growth momentum may have stabilised in Q2, underpinned by policy easing. We continue to expect more policy easing over the next few months and real GDP growth to stabilise at 7.4% y-o-y in Q2, followed by a shallow rebound in H2."
Key Quotes
"The China MNI business sentiment index continued its rise, reaching 55.0 in June from 53.7 in May – in contrast with an average 3.8 percentage point drop for May-June over the past five years."
"The improvement supports our view that growth momentum may have stabilised in Q2, underpinned by policy easing. We continue to expect more policy easing over the next few months and real GDP growth to stabilise at 7.4% y-o-y in Q2, followed by a shallow rebound in H2."