On January 3rd, leading indicators such as the Purchasing Managers’ Index (PMI) for the manufacturing industry in December 2024, as well as high-frequency data, showed that China’s economic prosperity continued to rise and improve by the end of 2024, with both supply and demand expanding, laying the foundation for stable economic growth in January 2025. Based on recent high-frequency data, the production side may weaken in January 2025, while the demand side will continue to improve. The interviewed experts unanimously believe that although factors such as the Spring Festival holiday affect the production activities of enterprises, the pre holiday market demand is expected to be concentrated and released, driving the consumption of goods and services to strengthen. Considering the active construction of major projects in various regions at the beginning of the year, the “export rush” effect, and the effective implementation of early consumption promotion policies, it is expected that the economy will have a stable opening in January 2025. (Securities Times)
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