Sunday, 22 September, 2019


China's Q2 GDP slowing slowly

Source Bloomberg Source Bloomberg
Conrad Doyle | 15 July, 2019, 11:45

China's economy slowed to the weakest pace since quarterly data began in 1992 amid the ongoing trade standoff with the US, while monthly indicators provided signs that a stabilisation is emerging.

The 6.2% figure released by the national bureau of statistics on Monday was in line with forecasts by analysts and down from an expansion of 6.4% in the first quarter.

China's trading partners and financial markets are closely watching the health of the world's second-largest economy as the Sino-US trade war gets longer and costlier, fuelling worries of a global recession. This article is strictly for informational purposes only.

"The Chinese government will not allow the quarterly growth to fall below 6.0 (percent)", he said in a note.

"The current economic situation remains tough and complicated both at home and overseas with slowing global economic growth, increasing external uncertainties and imbalanced development at home", NBS spokesperson Mao Shengyong said at a press conference (link in Chinese) on Monday.

"Cutting the benchmark deposit and lending rates - the likelihood is very low".

Value-added industrial output, which measures production at factories, mines and utilities, rose 6.3% (link in Chinese) year-on-year in June, up from 5% growth in the previous month.

However, analysts say robust growth in property investment has been mainly due to aggressive land bidding by developers this year, while actual construction activity has slowed.

The slowdown underlines the pressure that Chinese policy makers face as they attempt to negotiate a deal with the USA on trade, while the economy takes another step down in the long-term deceleration from the heady expansion of the mid-2000s.

High-level trade talks to resolve the issues resumed this month, but the gulf between the two sides remains wide. "It's more possible (that) they twist the market-oriented rates - cutting the interest rates of all those liquidity facilities also sends an important signal to the market", said Aidan Yao, senior Asia emerging markets economist at AXA Investment Managers in Hong Kong.

The contribution from net exports will decline as domestic demand gradually recovers, Zhu told the official Financial News ahead of the Q2 data, adding that he expects economic growth to slow to 5.8% next year.

Daily output for crude steel and aluminium both rose to record levels.

Retail sales for June rose 9.8% in annual terms.

Online sales surged 17.8 percent year on year to 4.82 trillion yuan in the first half, 2.5 percentage points faster than the first quarter.

Some analysts, however, questioned the apparent recovery in both output and sales.

"The monthly data were better than expected".

Fixed asset investment growth in the first half accelerated at private firms, whereas state companies eased back, a further sign that government efforts to funnel cash to the private sector may be bearing fruit.

Recommended

loading...
...

Trump's tweets against liberal congresswomen called racist Trump's tweets against liberal congresswomen called racist Bush, Barack Obama and Donald Trump as the legal basis for missions and deployments around the world over the past 17 years. United States political commentator Josh Rogin said: "This is a new, terrible, racist, sad low, even for Trump".

Nadal takes down Kyrgios in four explosive sets Nadal takes down Kyrgios in four explosive sets That's most definitely not why I lost'. "I'm not sure. I think he can take a ball in the chest, bro. I just didn't want to hit another one".

Marais Erasmus, Kumar Dharmasena Named On-Field Umpires For The Final Marais Erasmus, Kumar Dharmasena Named On-Field Umpires For The Final While Roy was penalised for descent, the umpire has been rewarded by the ICC with an honour to officiate in the final at Lord's. Interestingly, Aleem Dar has been made the fourth umpire in the final despite the grave error by Dharmasena.

US companies may soon get OK to sell to Huawei again US  companies may soon get OK to sell to Huawei again Huawei did not respond to Reuters' solicitations for commenting on this information. Licenses could be issued where there is no threat to national security.

USA officials push for sanction on China over oil purchases from Iran USA  officials push for sanction on China over oil purchases from Iran Others are looking to impose secondary sanctions on Chinese entities as a penalty for ignoring the Iran sanctions. The sources did not give specific reasons for the decision, which came after two months in which U.S.

Epstein accused of witness tampering in sex trafficking case Epstein accused of witness tampering in sex trafficking case Labor Secretary Alexander Acosta said Friday he's stepping down amid the tumult over his handling of the 2008 deal with Epstein . He was arrested for trafficking underage girls earlier this week and will appear in court Monday.

WWE Wrestler Jeff Hardy Arrested for Public Intoxication WWE Wrestler Jeff Hardy Arrested for Public Intoxication Hardy was again arrested, this time for driving while intoxicated, after a vehicle crash in March 2018 in Concord, North Carolina. The wrestler captured fans' hearts for his death-defying stunts with WWE from 1998 through 2003.

Novak Djokovic and Roger Federer’s most memorable matches Novak Djokovic and Roger Federer’s most memorable matches It's also the 16th showdown between Federer and Djokovic at a Grand Slam tournament, breaking a tie with Djokovic vs. Djokovic admitted that he is expecting a battle after their 2014 and 2015 meetings at the All England Club.

Man who allegedly attacked Tacoma immigrant detention center has been identified Man who allegedly attacked Tacoma immigrant detention center has been identified Since the officers were not wearing body-camera, authorities will investigate footage from nearby CCTV camera, Cool added. The state of Washington has also sued the company for not paying the immigrants there minimum wage for work done there.

Trump unloads on Paul Ryan after 'American Carnage' excerpts Trump unloads on Paul Ryan after 'American Carnage' excerpts Romney added that, "as the sole person who could unite the House", Ryan "acquiesced to be Speaker as a service to the country". I mean, Ryan , who my friend Charles Pierce calls the granny starver, must know it's a little late for self-justification now.

Halep crushes Serena Williams to win Wimbledon women's singles title Halep crushes Serena Williams to win Wimbledon women's singles title Halep weathered the storm and reeled off the last five games of what she described as the best match of her life. I think if I overdo it, then that could also be a problem, as well. "It was an honor to play in front of her".

Wimbledon Final: Nick Kyrgios burns Novak Djokovic ahead of Roger Federer clash Wimbledon Final: Nick Kyrgios burns Novak Djokovic ahead of Roger Federer clash Nadal made him wait for victory in a tense final game at SW19 but Federer ran out a deserved victor in a match high on quality. I think the moment you've played somebody probably more than 15 times , there's not that much more left out there.

New Zealand set target of 242 for England in World Cup final New Zealand set target of 242 for England in World Cup final Ajit Argarkar, Daniel Vettori and Raunak Kapoor break down the importance of England bowler Liam Plunkett's three-wicket haul vs. The Black Caps will hope the result is different this year than it was in 2015, when they lost to Australia by seven wickets.

Tropical Storm Barry: Gator Spotted on Barry-Flooded Mississippi Street Tropical Storm Barry: Gator Spotted on Barry-Flooded Mississippi Street I have 23 that are in Lafayette and they have local buses and supporting some evacuation efforts in and around the Lafayette area. On-again, off again rain hit New Orleans overnight. "It's moving really slowly", said New Orleans Councilwoman Helena Moreno.

Xiaomi Mi A3 retail box images leaked Xiaomi Mi A3 retail box images leaked This time around, though, it'll add a third camera in place of the LED flash and place the latter directly below the setup. At the back is the 48 MP Sony IMX586 with an f/1.8 aperture lens, an 8 MP ultra-wide angle, and a 2 MP depth sensor.