China’s Cyclical Momentum Index keeps rising through the start of 2021

The Preliminary CICC Cyclical Momentum Index (CMI) for China stood at 94.01% in January 2021, increasing for the third consecutive month after a drop in October 2020.

A breakdown of the index shows that January’s increase was mainly driven by a surge in industrial production.

CICC CMI Index measures the cyclical strength of the Chinese economy. A breakdown of the index shows that January’s increase was mainly driven by a surge in industrial production.

Sub-indexes including external consumption and price also rose slightly. However, domestic consumption was still on a downward path, revealing the weak demand from Chinese households.

Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q1 2021 report.