China: Moderate end-of-year pickup

Overall, the economic data published in the last two days were positive and suggest that the Chinese economy in the fourth quarter 2012 was somewhat more dynamic than in the preceding quarters.

China: Industrial sentiment brightens further

Sentiment in China’s manufacturing sector improved further in November. The purchasing managers’ index carried out by HSBC and Markit rose appreciably to 50.4 points, reaching the highest level for 13 months. With the official PMI having already climbed above the 50-point expansion threshold in October, both surveys are now signaling a pickup in economic momentum.

Further evidence of pickup in momentum

Sentiment in China’s manufacturing sector improved in October for the second month in a row.

Soft landing

China’s third quarter growth figures are disappointing only at first glance. Overall they confirm our view that the world’s second largest economy is heading for a soft landing.

Brazil: Modest pickup

In the second quarter of 2012, Brazilian economic growth picked up slightly compared with the beginning of the year.

Brazil: Growth numbers disappoint

The Brazilian economy hardly grew at all in the first quarter of 2012. Not least with the global backdrop remaining difficult, the pickup over the remainder of the year is likely to be weaker than we had originally expected. As a result, growth this year looks set to remain well below 3%.

China: Only modest acceleration on the cards

Economic growth in China slowed further in the first quarter of 2012. However, with world trade set to pick up somewhat and thanks to economic policy stimuli, we expect economic activity to move up a notch in the course of the year. We are sticking to our forecast of 8.5% real growth this year.

Brazil: Out of the woods

Following a very subdued performance overall in the second half of 2011, the Brazilian economy looks set to gradually pick up steam again as from the current quarter.

China: New normal in Chinese

The Chinese economy lost further steam in the fourth quarter 2011. Even though we are penciling in a slight acceleration in growth in the course of 2012, average annual growth this year is likely to be the “weakest” in eleven years.