2016-06-26

PBOC Q2 Surveys: Optimism Up, But Conditions Deteriorate

The PBOC's quarterly survey are out. The main consistency across the surveys was rising prices and price expectations, along with jump in macro economic confidence.

In the business survey, it showed increased optimism in the macro economy and prices thanks to the commodities bounce. However, business confidence, export orders, cash flow and receivables are all worse than in Q2 2015. The chart below shows the uptick in feelings about prices, the second shows the uptick in orders does not break with the ongoing trend.


PBOC Q2 Business Survey: 2016年第二季度企业家问卷调查报告

The banking survey shows rising confidence in the macro economy, but falling opinion of monetary policy and falling credit demand.


PBOC Q2 Bank Survey:
2016年第二季度银行家问卷调查报告


Similar to the business survey, the only thing that bounced significantly in the household survey was price expectations.

PBOC Q2 Household Survey:
2016年第二季度城镇储户问卷调查报告

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