Skandinaviska Enskilda Banken (OMX: SEB A) published its semi-annual SEB China Financial Index intended for institutional investors on its press site. It concluded that managers of North European companies operating in China are still mostly positive but more worried than before that a global slowdown and restrictive monetary policies will have an impact on their business.
The index now stands at 61, which is down from 63.4 in September and 70 a year ago. A number above 50 indicates a positive attitude. The web-based survey is based on 50 subsidiaries of large Nordic and German companies. It was conducted in early February.
The report also noted that Chinese authorities may respond quickly and decisively with a looser policy if the conditions seems to be softening. We have already seen a couple of cuts on the reserve ratio demands, a tool that is still used for money supply control in China, within last several weeks. Most experts continue to believe China is at most due a soft landing in the near future.
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