ASR WSJ Newsflow
The ASR/WSJ Global Composite Newsflow Indicator (CNI) unmoved in February at 54.2.
• As markets await the publication of Chinese activity data for Jan/Feb our China CNI saw a modest rebound from 42.7 to 47.1. Following several months of steep declines it remains down 10pts on a 3-month view (Chart 1) and 17pts off its October high.
• Key Message: Our China CNI experienced a modest rebound this month, perhaps reflecting coverage of government stimulus efforts. As yet however it remains consistent with downside risk to Chinese business confidence, Chinese trade over coming months.
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