Monday, February 10

High-level Voices:
• January CP| rose by 0.5% year-on-year, 0.7% month-on-month; PPI fell by 2.3% year-on-year.
• In 2024, there were 6.106 million marriage registrations, a decrease of 20.5% from 7.682 million in 2023, marking the lowest annual figure since 1980.

Overall Sentiment:
• The CPI increased, but considering the Spring Festival effect, the rise wasn't significant. Last year, the Spring Festival was in February, so next month's CP| data might look worse.
• The number of marriages in 2024 hit a new low. Last year was the Year of the Dragon, which ended an 8-year decline in marriage registrations. The number of babies born in 2024, also in the Year of the Dragon, led to a rebound in annual population growth, but this rebound is not sustainable. The number of babies born in 2025, the Year of the Snake, is expected to hit a historical low.