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☆ Make it easier to raise children, say many Chinese after population falls
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +4 min

"Our parents think if they have more children, they can get more care when they grow old. They think raising one child is already very tiring." China is one of the most expensive places to raise a child, beaten only by South Korea, according to the Beijing-based YuWa Population Research. In Australia it was 2.08 times, 2.24 times in France, 2.91 times in Sweden, 3.64 times in Germany, and 4.11 times in the US. By comparison, north Asian countries were the costliest, with Japan 4.26 times, China 6.9 times and South Korea 7.79 times.

☆ China reports 3% GDP growth for 2022 as December retail sales, industrial production beat estimates
▼ + stars: | 2023-01-17 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +5 min

BEIJING — China reported GDP growth for 2022 that beat expectations as December retail sales came in far better than projected. The GDP growth number did miss the official target of around 5.5% set in March. Retail sales drop far less than expectedRetail sales fell by 0.2% for the year. Those online sales accounted for 27.2% of total retail sales. and U.S.China’s leaders are set to announce the full-year GDP growth target in March at an annual parliamentary meeting.

☆ China’s population drops for the first time in decades
▼ + stars: | 2023-01-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's population declined in 2022, the National Bureau of Statistics said Tuesday. Mainland China's population, excluding foreigners, fell by 850,000 people in 2022 to 1.41 billion, the statistics bureau said. The country reported 9.56 million births and 10.41 million deaths for 2022. In 2021, China's population grew by the slowest increase on record. The mainland China population, excluding foreigners, rose by 480,000 to 1.41 billion people at the end of 2021, according to the National Bureau of Statistics.

☆ China Inflation Picks Up as Covid-19 Restrictions Fall
▼ + stars: | 2023-01-12 | by ( Jason Douglas | ) www.wsj.com time to read: 1 min

SINGAPORE—Inflation in China picked up in December and is expected to accelerate further in the months ahead as the economy revs up following Beijing’s abrupt dismantling of its zero-tolerance measures to contain Covid-19. Consumer prices rose 1.8% in December compared with a year earlier, faster than the 1.6% annual rate recorded in November, China’s national statistics bureau said Thursday.

Property investment in November fell the fastest since the statistics bureau began compiling data in 2000, down 19.9% on year. "Although property sales and starts will likely be slightly weaker than in 2022, property will be much less of a drag on the economy than in 2022." Reuters GraphicsHOUSING DEMANDShares in embattled Chinese property developers have gained 86% since the trough in October, buoyed by a string of property easing measures and the COVID policy u-turn. "We may be close to see some bottoming out in housing demand …but I don't think we're quite there yet," he said. The latest China Beige Book private economic survey was more blunt: "But forget a return to days of old: it will take considerable policy support in 2023 just to pull property out of the gutter."

☆ Japanese families reportedly set to receive 1 million yen per child for moving out of Tokyo
▼ + stars: | 2023-01-03 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Tokyo is one of the most densely populated cities in the world, while rural areas of Japan are suffering with ageing populations and declining birth rates. The Japanese government will give families up to 1 million yen ($7,670) per child if they opt to move out of Tokyo, according to multiple media reports. The government was already offering 300,000 yen per child for families relocating to other parts of the country. According to the Statistics Bureau of Japan, in 2021, 28.9% of Japan's total population was at least 65 years old, marking a record high for the country. There were 14.78 million 0-14-year-olds in the same year, accounting for 11.8% of the total population, the lowest level ever recorded in Japan.

☆ Missing jobs mystery puts Fed on back foot
▼ + stars: | 2022-12-22 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

A study published by the Philadelphia Federal Reserve last week said 10,500 new jobs were added in the second quarter of 2022. Yet the national statistics bureau had previously reported a total over the same period of more than 1 million. Those seemingly missing jobs put the Federal Reserve, which uses the job market as a signal in its fight against inflation, on the back foot. The BLS jobs report includes job counts from both a household survey and a survey of businesses’ payrolls. The federal government releases monthly jobs data, but revises its numbers once a year as part of a process known as benchmarking, which factors in more comprehensive data only released quarterly.

☆ Macau to drop COVID tests for arriving passengers
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Dec 22 (Reuters) - International arrivals to Macau, including from Hong Kong and Taiwan, will no longer need to undergo a nucleic acid test after landing and will be able to move freely, the government said on Thursday, the biggest steps yet to relax stringent COVID measures. However, travellers from overseas will still be required to present a negative nucleic acid test certificate for entry, the government said. Earlier this week, Macau cancelled its regulations on risk zones in mainland China. Visitor arrivals to the world's biggest gambling hub dropped by 36.8% on the month and 54.3% year-on-year to 366,511 in November, according to the Macau Statistics Bureau. Reporting by Twinnie Siu, Meg Shen and Farah Master; Editing by Toby Chopra, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

While the error margins are unlikely to distort euro inflation in the long-term, economists say they could warp inflation expectations if not addressed, at a time when the European Central Bank is raising rates aggressively to tame double-digit inflation. As falling energy prices will take time to be reflected in household contracts, the current methodology will underestimate inflation when energy prices fall, CBS said. More volatility could follow when Germany introduces a cap on energy prices in March, that will also cut costs for January and February retroactively, he said. Eurostat has said that only measures that have a direct impact on energy prices, known to consumers before they purchase the energy, should reflect in inflation calculations. FEEDTHROUGH RISKSWith inflation at 10%, the calculation issues are unlikely to significantly impact the aggregate euro zone inflation print.

☆ Nigerian inflation rate climbs for 10th straight month in Nov
▼ + stars: | 2022-12-15 | by ( Chijioke Ohuocha | ) www.reuters.com time to read: +1 min

REUTERS/Afolabi SotundeABUJA, Dec 15 (Reuters) - Annual inflation in Nigeria climbed to 21.47% in November from October's rate of 21.09%, accelerating for the 10th straight month as food prices surged, the statistics bureau said on Thursday. A separate food price index showed inflation at 24.13% in November, compared with 23.72% in October, as Africa's most populous nation continues to struggle with rising prices for staples. "The rise in food inflation was caused by increases in prices of bread and cereals, oil and fat, potatoes, ... and fish," the NBS said in a report. The government expects inflation to remain in double digits, averaging 17.16% next year. Virag Forizs, emerging markets economist at Capital Economics, said November inflation data was stronger than expected, meaning prices could rise further.

Analysts expect sentiment to recover gradually next year, as the relaxation of COVID restrictions and property support policies take effect. Property investment fell the fastest since the statistics bureau began compiling data in 2000, down 19.9% on year in November after a 16% slump in October, the NBS said in a statement. Beike's Liu predicted housing demand will be gradually released in 2023 as consumer sentiment will improve with a progress in housing delivery. Although markets cheered the easing policies, which are expected to boost economic growth in the long term, some analysts say fragile overall demand will keep the property sector's recovery gradual. "Considering the challenging demographic trend, and policymakers' long-held stance that 'housing is for living in, not for speculation', we maintain our view that the property sector recovery should be gradual and bumpy," Goldman Sachs analysts said in a note.

It marked the slowest growth since May when Shanghai was under lockdown, partly due to disruptions in key manufacturing hubs Guangzhou and Zhengzhou. Retail sales fell 5.9% amid broad-based weakness in the services sector, also the biggest contraction since May. "The weak activity data suggest that the policy needs to be eased further to revive the growth momentum," said Hao Zhou, chief economist at GTJAI. "The increased size of the MLF rollover this morning is in line with the overall easing policy tones. That would hit businesses and consumers, while a weakening global economy hurts Chinese exports.

☆ Italy's economy grows stronger than expected 0.5% in Q3, easing pressure on new govt
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

* Q3 GDP 0.5% q/q, 2.6% y/y* Easily beats forecasts* Q3 growth founded on domestic demandROME, Oct 31 (Reuters) - Italy's economy grew by 0.5% in the third quarter from the previous three months, preliminary data showed on Monday, a much stronger reading than expected which takes some pressure off the new right-wing government. On a year-on-year basis, gross domestic product in the euro zone's third largest economy was up 2.6%, national statistics bureau ISTAT said. The Treasury said last month that is expected to see a GDP contraction in the third quarter. ISTAT said that assuming GDP was flat quarter-on-quarter in the fourth quarter, full-year growth would come in at 3.9% this year. ISTAT confirmed second quarter growth at 1.1% from the previous three months but revised the year-on-year rate to 4.9% from a previously reported 5.0%.

Gross domestic product grew by 0.5% in the third quarter from the second and 2.6% year on year, national statistics bureau ISTAT said. Both preliminary readings were around half a percentage point higher than expected in Reuters survey of analysts, while the Treasury had said last month it expected a third quarter contraction. The government plans to raise next year's budget deficit to 4.5% of GDP, up from the 3.4% projected last month under current trends, a senior official said. Italian inflation hit 12.8% in October, the highest level since the country's EU-harmonised index was launched in 1996. Full year growth this year will come in at 3.7%, Federico forecast, above Rome's official 3.3% target.

REUTERS/Tingshu WangSummary Sept new home prices fall 0.2% m/m, down for second monthNew home prices down 1.5% y/y, fastest pace since Aug 201554 cities out of 70 report price declinesBEIJING, Oct 24 (Reuters) - China's September new home prices fell for the second straight month as mortgage boycotts, a heightened debt crisis and COVID-19 curbs weighed on homebuyers' sentiment. China's property sector has been beset by multiple headwinds after regulators clamped down on excessive borrowing since mid-2020. In monthly terms, new home prices in tier-two cities fell 0.2% and declined 0.4% in tier-three cities. Property investment fell 12.1% from a year earlier, slightly narrowing from a 13.8% fall in August. "There is little room to give more help to real estate property developers as doing so will risk the credibility of government reform (for property developers, that means the deleveraging reform)," said Iris Pang, chief economist for Greater China at ING.

☆ China new home prices fall for second month in September
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Tingshu WangSummary Sept new home prices fall 0.2% m/m, down for second monthNew home prices down 1.5% y/y, fastest pace since Aug 201554 cities out of 70 report price declinesBEIJING, Oct 24 (Reuters) - China's new home prices fell for the second straight month in September, as its property sector grappled with a mortgage boycott, a heightened debt crisis and COVID-19 restrictions that dimmed the economic outlook. China's property sector has been beset by multiple headwinds after regulators clamped down on excessive borrowing since mid-2020. Property investment fell 12.1% from a year earlier, slightly narrowing from a 13.8% fall in August. China reiterated its "housing is for living, but not for speculation" in the full work report of the Communist Party Congress. Analysts from Nomura said in a note that a comprehensive solution to the property sector might not be introduced until after March 2023, when Beijing's political reshuffle is fully completed.

HONG KONG, Oct 18 (Reuters Breakingviews) - It’s mid-afternoon Monday in Beijing and a simple question is doing the rounds: will China’s latest GDP figures be published as scheduled the next day? A day later, there’s still no sign of when the data will land, nor any clear explanation. It invites speculation that the numbers show the economy is in bad shape and are being kept under wraps so they don’t steal the thunder of the ruling Communist Party’s twice-a-decade congress, which began on Sunday. The delay came amid the twice-a-decade congress of the ruling Communist Party which runs from Oct. 16 to 22. Register now for FREE unlimited access to Reuters.com RegisterEditing by Antony Currie and Thomas ShumOur Standards: The Thomson Reuters Trust Principles.

☆ China delays release of key economic data amid party congress
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +3 min

The highly unusual delay comes amid the week-long congress of the ruling Communist Party, a twice-a-decade event that is an especially sensitive time in China. He said the delay was unlikely to affect market sentiment as most preliminary economic data pointed to a pick-up in recovery in the third quarter. The delays followed the unexplained delay in the release of September's trade data by the General Administration of Customs, which had been due out on Friday. The trade data was not released on Monday and calls to the customs administration seeking comment went unanswered. At the last party congress, in 2017, third quarter GDP data was released as usual.

☆ China delays release of economic indicators including Q3 GDP
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Aly SongBEIJING, Oct 17 (Reuters) - China will delay the release of economic indicators originally scheduled for publication this week, including the country's third-quarter gross domestic product due on Tuesday, according to an updated calendar on the statistics bureau's website. The data for third-quarter GDP - originally scheduled for release at 10:00 a.m. local time (0200 GMT) on Tuesday - had been highly anticipated after the world's second-largest economy grew just 0.4% in the second quarter from a year earlier. The delays announced on Monday followed an unexplained move by the General Administration of Customs on Friday to skip its previously scheduled release of September's trade data. The trade statistics had been expected to show China's export growth weakened further from August, dragged down by soft global demand, while its imports remained tepid. The trade data was still not released on Monday and calls to the customs administration seeking comment went unanswered.

☆ Stocks bounce but sterling slippery after BoE buys bonds
▼ + stars: | 2022-09-29 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The Bank of England said it will buy as much as £5 billion ($5.4 billion) a day of long-dated government bonds until Oct. 14. For one, this re-stimulation will lift, not quell UK inflation, and that's bad for bonds and sterling." The mood gave pause to the U.S. dollar's march higher and the dollar index had its worst session in 2-1/2 years as the greenback recoiled from lofty heights. The dollar index was up 0.1% to 113.12, within striking distance of Wednesday's 20-year high of 114.78. ($1 = 0.9252 pounds)Register now for FREE unlimited access to Reuters.com RegisterEditing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ COVID-hit Shanghai unveils $257 billion in projects in infrastructure push
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Aly SongBEIJING, Sept 20 (Reuters) - China's commercial hub of Shanghai on Tuesday announced eight infrastructure projects with total investment of 1.8 trillion yuan ($257 billion), after the city was hit hard by COVID-19 lockdowns in April and May. In the first eight months of the year, Shanghai's infrastructure investment fell 27.4% versus an 8.3% gain nationwide, data from local statistics bureaus showed on Monday. The cabinet told local governments to complete selling more than 500 billion yuan in special bonds by the end of October under carryover quotas from 2019. Such bonds, on top of the annual quota of 3.65 trillion yuan, will help to fund infrastructure projects. "China's infrastructure investment will in the coming years bolster its slowing economy," Moody's analysts wrote in a recent note.

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