China: Stable near-term outlook as long-term uncertainty remains – ANZ
Betty Wang, analyst at ANZ, notes that private consumption and investment were the key drag on China’s GDP growth in 2019, not net exports.
“China’s key domestic economic data in December, however, signal signs of near-term stability, particularly in the manufacturing sector.”
“China’s traditional investment drivers appear to have lost momentum while high-tech investment have outperformed.”
“Consumer spending is a ‘wild card’.”