China Credit Impulse – Reflation Cycle

China Credit Impulse – Reflation Cycle This chart shows that China credit impulse has not yet boosted relative earnings. Credit impulse is the change in new credit issued as a percentage of GDP. Image: Fidelity Investments

China GDP and China Credit Impulse

China GDP and China Credit Impulse The chart shows the correlation between credit impulse and China GDP. Credit impulse is the change in new credit issued as a percentage of GDP. The chart also suggests that the latest stimulus has been more effective than previous ones. Image: TS Lombard

China Credit Impulse Leads Global Manufacturing PMI

China Credit Impulse Leads Global Manufacturing PMI This great chart suggests that China credit impulse leads global manufacturing PMI by 12 months. Credit impulse is the change in new credit issued as a percentage of GDP. Image: Nordea and Macrobond

China Credit Impulse Leads World Trade

China Credit Impulse Leads World Trade The chart suggests that China credit impulse leads world trade by 12 months. World trade is expected to turn positive in coming months. Credit impulse is the change in new credit issued as a percentage of GDP. Image: Oxford Economics, Macrobond

Chinese Credit Growth and OECD Leading Indicator for China

Chinese Credit Growth and OECD Leading Indicator for China Chinese Credit growth rebounded in September and suggests stronger activity on the horizon. The OECD leading indicator for China picked up further at the highest level since 2017. Image: Danske Bank Research

China Property Sales and Total Credit Growth

China Property Sales and Total Credit Growth According to Gavekal, Chinese monetary policy is still in a moderate “selective easing” mode. Image: Gavekal, Macrobond