Credit Agricole's Kowalcyk Calls China Feb. PMI 'Very Reassuring'

The video discusses economic expectations, focusing on PMI data and its slight improvement over forecasts. It highlights the impact of seasonal adjustments, particularly around the Lunar New Year, on economic volatility. The discussion shifts to nominal GDP, noting its strong performance last year due to a robust GDP deflator and high PPI. Despite decelerating price pressures, nominal GDP is expected to grow, aiding corporate profitability and debt reduction. The video concludes with a focus on the restructuring of economic growth, emphasizing the increasing importance of consumption over investment and services over manufacturing.

What is the significance of nominal GDP in relation to corporate profitability?

How has the structure of growth in the economy changed recently?