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rffrydr
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 Posted: Tue Jun 01, 2010 12:28 pm Post subject: |
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A xxx party without the xxx?
http://tinyurl.com/29az9eq
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rffrydr
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| Posted: Thu May 27, 2010 7:15 am Post subject: |
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China's surplus this quarter one/quarter what it was. As today's announcement makes clear, far from distancing its euro reserve position, watch for a steady stream in. China, like Buffett, buys brands.
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rffrydr
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| Posted: Sun May 09, 2010 10:02 am Post subject: |
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Chinese retail
Published: May 7 2010 09:43 | Last updated: May 7 2010 15:45
| Quote: | Everything seems set up in China for a consumption boom. Interest rates are low, consumer credit is rising, savings rates are falling. State incentives have lifted first-time purchases of bigger-ticket items such as fridges and personal computers, which tends to trigger a cycle of replacement and one-upmanship.
Yet there isn’t much evidence of one. In March total retail sales of consumer goods, as tracked by the National Bureau of Statistics, were up 17.9 per cent year-on-year – a whisker under the five-year average of 18 per cent. Five of the top ten listed retailers reported decelerating sales growth from the fourth to the first quarter, notes consultancy Access Asia. |
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rffrydr
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rffrydr
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rffrydr
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Location: Sunny California
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rffrydr
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rffrydr
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| Posted: Tue Jun 02, 2009 11:48 am Post subject: |
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Not yet Bug disconcerting was the Chinese PMI data as those surveys were mixed. The survey set up by the China Federation of Logistics and Purchasing and National Bureau of Statistics fell and looks as though it is starting to roll over.
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rffrydr
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rffrydr
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| Posted: Sun Apr 19, 2009 10:12 pm Post subject: |
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| Quote: | One note from today’s data on deflation. The headline in the Wall Street Journal says
China grew at 6.1% last quarter. That doesn’t sound bad. But what was not in the story is that
nominal growth was just 3.7%. The other 2.4% was because of deflation. To get real (afterinflation)
growth you subtract inflation and/or add deflation. Growth in China is slowing down
more than the headlines suggest. |
--Mauldin
Note also: this is annualized, not quarter-on-quarter like "we" do.
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rffrydr
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| Posted: Thu Feb 05, 2009 4:44 pm Post subject: |
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GaveKal notwithstanding (ore prices and shipping as much a contract timing and credit function) the slowdown applies its grip:
· McDonald’s has cut the price of its extra value meal in China to the lowest price in 10 years. The drop was as much as 21%. Price effective through at least march 10 and may be extended.
· Associated International Hotels is asking for rents at its new malls in Hong Kong’s Tsim Sha Tsui neighborhood as much as 30% lower than the mid 2008 peak.
· China’s Electricity Council said that there may be an oversupply of electricity this year due to weak demand. 80 gigawatts of capacity will be added. Demand for coal fired power plants with the rate of operation cut by 15%.
· China’s import price index dropped to 90 in December – lowest level since March 2002. Export index dropped to 105.1, which was the lowest in 2008.
· CSCO said that that Chinese orders fell 30% in Q2.
· Yum Brands lowered its profit sales forecast for China. It will rise 15-20% down from a prior projection of 20% -- remember they are expanding aggressively. January sales were said to be in line to slightly below expectations. Q4 mainland comparable store sales in China rose 1%
· December cargo stats from Chinese airports showed sequential volumes weak and year over year passenger and cargo volumes off 3.8%.
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rffrydr
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rffrydr
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rffrydr
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| Posted: Wed Jan 21, 2009 10:00 am Post subject: |
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China Unicom reported GSM additions of 424,000. This is very low. Moreover, broad band subscribed fell 22,000.
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