Bloomberg Daybreak: Asia Edition
Parsing Through US, China Economic Data
Oct 14, 2024
Ryan Wang, a U.S. economist at HSBC, shares insights on core goods prices and inflation trends in the U.S. Minmin Low, Bloomberg's China correspondent, analyzes China's economic policies amid low consumer demand. Carlos Casanova from UBP discusses the implications of China's fiscal strategies on global economics. Shana Sissel, CEO of Banrion Capital Management, highlights investment opportunities in small-cap stocks, emphasizing careful selection strategies while navigating market changes. The conversation provides a comprehensive view of the current economic landscape in both the U.S. and China.
33:06
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Quick takeaways
- In the U.S., strong GDP growth and declining unemployment rates contrast with concerns over future job creation and spending patterns.
- China's cautious fiscal approach, lacking substantial stimulus for domestic consumption, highlights ongoing economic weaknesses amid deflationary pressures.
Deep dives
Inflation Trends and Consumer Sentiment
Recent data reveals a slight increase in core goods prices, which raises concerns among investors, although this is in contrast with the overall trend of declining goods prices observed over the past year. The consumer price index (CPI) indicates that while overall inflation has calmed, services inflation remains high, particularly in housing and non-housing sectors. Despite falling inflation rates over recent years, high price levels still impact household budgets heavily, leading to cautious consumer sentiment. The upcoming New York Fed survey on consumer expectations will be crucial in assessing how consumer attitudes might shift moving forward.
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