MNI China November Business Sentiment
- 49.9 vs. 55.6 in October
- Down 10.3% m/m (+8.4% last month!)
Wow ... this is a volatile indicator recently
- New Orders fell 6.6%
- Production fell 4.2%
Comments from Philip Uglow, Chief Economist MNI Indicators
- In spite of the instability in many areas though, business is finding some support in the easier credit environment while new orders and output remain elevated by historical standards
- The latest result confirms that the business backdrop is fragile and further stimulus is warranted, particularly given the renewed disinflationary tone struck in November's survey
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Yep ... seems little doubt we'll get more China stimulus, both fiscal and monetary
