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. Picture source: 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. Picture source: 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. Picture source: 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. Picture source: Oxford Economics, Macrobond