Tuesday, October 30, 2012

Bullish On China : BofA

As per the 11-page report published by Merrill Lynch's China economist Ting Lu, China's economy shows across-the-board green shoots.
Major take aways from reports:
  • Prices of cement, iron ore, steel and transportation bounced recently.
  • Inventory of coal, iron ore and perhaps some raw materials are declining.
  • Tail risks especially those in euro zone have been reduced to a large extent.
  • Our global economics team expects flat global growth at 3.1% in 2013 compared with 2012.
  • 4Q12 year-over-year GDP growth to 7.8% from 7.5%
  • 2012 annual GDP growth to 7.7% from 7.6%

Complete report at BusinessInsider.

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