Weak China Inflation Shows Stimulus Has Yet to Really Boost Consumption -- Market Talk

Dow Jones

Jan 09, 2025

0857 GMT - China's stimulus has yet to provide a meaningful lift to private consumption and prices, UOB economists say after data showed a second year of subdued CPI inflation and PPI contraction in 2024. Food prices in recent months have been weaker than expected, despite a low comparison base, while demand for services and consumer goods stayed weak as the growth outlook softened, Ho Woei Chen says. UOB expects a slight improvement in 2025 as policymakers step up monetary and fiscal policy easing to boost domestic demand. It sees 2025 inflation at 0.9% and PPI deflation at -1.2% compared to 0.2% and -2.2% in 2024. China's 4Q GDP next Friday will likely show nominal growth, weighed down by weak prices, while posting a pickup in real GDP growth from 3Q. UOB pegs 2024 growth at 4.9%. (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

January 09, 2025 03:57 ET (08:57 GMT)

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Food prices in recent months have been weaker than expected, despite a low comparison base, while demand for services and consumer goods stayed weak as the growth outlook softened, Ho Woei Chen says. UOB expects a slight improvement in 2025 as policymakers step up monetary and fiscal policy easing to boost domestic demand. It sees 2025 inflation at 0.9% and PPI deflation at -1.2% compared to 0.2% and -2.2% in 2024. China's 4Q GDP next Friday will likely show nominal growth, weighed down by weak prices, while posting a pickup in real GDP growth from 3Q. UOB pegs 2024 growth at 4.9%. (fabiana.negrinochoa@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 09, 2025 03:57 ET (08:57 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Weak China Inflation Shows Stimulus Has Yet to Really Boost Consumption -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWeak China Inflation Shows Stimulus Has Yet to Really Boost Consumption -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-09 16:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0857 GMT - China's stimulus has yet to provide a meaningful lift to private consumption and prices, UOB economists say after data showed a second year of subdued CPI inflation and PPI contraction in 2024. Food prices in recent months have been weaker than expected, despite a low comparison base, while demand for services and consumer goods stayed weak as the growth outlook softened, Ho Woei Chen says. UOB expects a slight improvement in 2025 as policymakers step up monetary and fiscal policy easing to boost domestic demand. It sees 2025 inflation at 0.9% and PPI deflation at -1.2% compared to 0.2% and -2.2% in 2024. China's 4Q GDP next Friday will likely show nominal growth, weighed down by weak prices, while posting a pickup in real GDP growth from 3Q. UOB pegs 2024 growth at 4.9%. (fabiana.negrinochoa@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 09, 2025 03:57 ET (08:57 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999013478.USD","symbol_name":"利安新加坡股息基金","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2502409384","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2502409384","pubTimestamp":1736413020,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Copyright (c) 2025 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999013478.USD":"利安新加坡股息基金","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","LU0577902538.SGD":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","SG9999008742.SGD":"Eastspring Investments Unit Trusts - Singapore ASEAN Equity SGD","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0210637038.USD":"HSBC GIF THAI EQUITY \"AD\" INC","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","LU0955669360.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD","SG9999002406.SGD":"利安新加坡信托基金","LU0577902454.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) ACC","LU0737861269.HKD":"FIDELITY ASEAN \"A \" (HKD) ACC","LU0738912210.USD":"Blackrock Asia Pacific Equity Income A6 USD","LU0577902371.SGD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (SGD) ACC","BK6516":"银行与投资服务概念","SG9999002620.SGD":"LionGlobal South East Asia SGD","LU0588545730.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"ADM\" (USD) INC","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","BK6523":"ESG概念","SG9999001135.SGD":"United ASEAN Fund SGD","LU1130305938.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD-H","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD","LU0588545490.SGD":"Eastspring Investments - Asian Equity Income AS SGD","LU0048573645.USD":"富达东盟基金","LU0251143029.SGD":"Fidelity ASEAN A-SGD","LU0918141887.USD":"安联亚洲实际收益股票基金","SGXZ58947870.SGD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (SGDHDG) INC","SG9999001127.SGD":"United Singapore Growth Fund SGD","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","SG9999002414.USD":"LIONGLOBAL SINGAPORE TRUST (USD) ACC","LU2152927971.USD":"NORDEA 1 ASIAN STARS EQUITY \"BP\" (USD) ACC","SG9999002604.SGD":"LionGlobal Singapore/Malaysia SGD","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","SG9999002679.SGD":"LionGlobal Singapore Balanced SGD","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","LU0831103253.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD","U11.SI":"大华银行","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","SGXZ27511609.SGD":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC","SG9999014302.SGD":"RHB Singapore Income Fund SGD","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","SG9999013460.SGD":"LionGlobal Singapore Dividend Equity Fund SGD","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0414403682.SGD":"Blackrock Asia Pacific Equity Income A5 SGD-H","LU0873338254.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) INC"},"translate_title":"中国通胀疲软表明刺激措施尚未真正提振消费——市场讨论","themeId":"015287fecaa24d584d5c71856f2bcd63","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"U11.SI":0.9},"content_text":"0857 GMT - China's stimulus has yet to provide a meaningful lift to private consumption and prices, UOB economists say after data showed a second year of subdued CPI inflation and PPI contraction in 2024. Food prices in recent months have been weaker than expected, despite a low comparison base, while demand for services and consumer goods stayed weak as the growth outlook softened, Ho Woei Chen says. UOB expects a slight improvement in 2025 as policymakers step up monetary and fiscal policy easing to boost domestic demand. It sees 2025 inflation at 0.9% and PPI deflation at -1.2% compared to 0.2% and -2.2% in 2024. China's 4Q GDP next Friday will likely show nominal growth, weighed down by weak prices, while posting a pickup in real GDP growth from 3Q. UOB pegs 2024 growth at 4.9%. (fabiana.negrinochoa@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 09, 2025 03:57 ET (08:57 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}