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By sector, automobile production remains very strong, followed by electronics… two of the categories targeted by the new US imports tariff hikes. pic.twitter.com/vUmh3zk03r— Patrick Zweifel (@PkZweifel) May 17, 2024
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Investment spending fell in April, but remains very solid over 3 months (>14% ann.), driven by the manufacturing sector, which benefits from public support for high-tech and the green economy, while real estate investment remains depressed, even if contracting at a slower pace pic.twitter.com/19dY3hMvLJ— Patrick Zweifel (@PkZweifel) May 17, 2024
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In consequence, the stock of unsold homes has returned to historical highs and, pending the impact of measures promised by the authorities to reduce this stock, continues to weigh on house prices, down 3.7% y/y pic.twitter.com/ZrKNAGkX3N— Patrick Zweifel (@PkZweifel) May 17, 2024
WOW! The #China real estate crisis just got worse. Chinese home prices dropped a staggering 0.94% in April, the second-biggest decline on record. Home prices have declined in 30(!) out of the last 33 months. China's housing market recession has been going on for nearly three… https://t.co/CqBTvx8QZl pic.twitter.com/DD530UVqgv
— jeroen blokland (@jsblokland) May 17, 2024
China’s biggest long term issue is that it just does not have the robust domestic consumption base that the United States enjoys.
Chinese retail sales are a full 30 points below where they should have been relative to its pre-COVID trend. You can blame Zero COVID, you can blame… pic.twitter.com/DKYu1KHldw
— Spencer Hakimian (@SpencerHakimian) May 17, 2024
https://x.com/ShanghaiMacro/status/1791310725732016186
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