The world's second-largest economy grew 6.7pc in the last quarter year-on-year - matching expectations - and looks set to meet the official 2018 growth target of around 6.5pc, though the trade row with Washington, a slowing property market and lower shipments have sharply increased the risks to the outlook. "We expect growth in H2 to be challenged by the slow credit growth and softer real estate activity. Also, the intensifying trade conflict with the US will start to weigh on growth," Louis Kuijs, head Of Asia Economics for Oxford Economics in Hong Kong, wrote in a note. The second quarter GDP figure was slightly below the first quarter's 6.8pc, the National Bureau of Statistics said on Monday, with net exports making a dent on overall first half economic growth. As the trade tussle with Washington shows no signs of ebbing and the external sector continues to weigh on China's economy, more timely monthly activity data indicated growth was slowing at a faster pace going into the second … [Read more...] about Chinese economic growth slows in second quarter
Quarterly gdp china
Asia Stocks Signal Mixed Start Ahead of China Data: Markets Wrap
Asian stocks will likely start the week in a mixed fashion as traders assess the sustainability of last week’s relief rally ahead of a slew of Chinese economic figures. Futures pointed to a marginally higher open for equities in Sydney, while Hong Kong shares indicated a slightly lower start. Japan is shut for a public holiday. Friday’s gain in U.S. stocks pushed the S&P 500 back above 2,800 as a pause in trade tensions outweighed a mixed start to earnings season. The yen is little changed after posting its biggest weekly slide since September.Trade tensions eased somewhat last week as officials in Beijing appeared to moderate their response to President Donald Trump’s tariff threats amid a slowing economy, falling stock market and weakening currency. Data coming Monday, including GDP and industrial production and retail sales, will give the latest detail on China’s economy, while later this week investors expect Federal Reserve Chairman Jerome Powell to lay … [Read more...] about Asia Stocks Signal Mixed Start Ahead of China Data: Markets Wrap
China’s second quarter GDP growth seen easing to around 6.7 percent
China’s economy will likely expand around 6.7 percent in the second quarter this year, the State Information Center (SIC) said in an article in the state-owned China Securities Journal on Saturday, Reuters reports. The forecast was slightly slower than the 6.8 percent expansion posted in the first quarter. The SIC is an official think tank affiliated with the National Development and Reform Commission, the country’s top economic planning agency. April activity data released earlier this week suggested that the world’s second-largest economy is starting to lose some momentum, as analysts have long predicted, as the government continues a crackdown on riskier types of financing. While still expanding at a good clip, retail sales and fixed asset investment grew more modestly than expected while property sales fell for the first time in six months in the face of continued government curbs on speculation and rising mortgage rates. The lone bright spot was a rebound in … [Read more...] about China’s second quarter GDP growth seen easing to around 6.7 percent
Brexit News Drives Sterling, as U.S – China Trade Talks Begin
Earlier in the Day: Economic data released through the Asian session this morning included New Zealand’s 1st quarter producer price figures, April CAPEX figures out of Japan and Australia’s all-important April employment numbers. For the Kiwi Dollar, 1st quarter producer input prices rose by 0.6%, coming in ahead of a forecasted 0.3% increase, while easing from a 4th quarter 0.9% rise. According to figures released by NZ States, the 1st quarter rise was attributed to a 1.7% rise in input prices for dairy product manufacturing and a 7.2% rise in input prices for petroleum and coal product manufacturers, stemming from rising crude oil prices. The Kiwi Dollar moved from $0.69062 to $0.69072 upon release of the figures, before rising to $0.6928, a gain of 0.46% for the early part of the session. For the Japanese Yen, Japan’s April core machinery order figures disappointed, following the 1st quarter GDP numbers on Wednesday, with orders sliding by 3.9% year-on-year. The … [Read more...] about Brexit News Drives Sterling, as U.S – China Trade Talks Begin
The U.S. Is About to See How Deep the First-Quarter GDP Pothole Is
The U.S. economy probably hit its usual first-quarter pothole, and we’re about to find out how deep it was this time.Gross domestic product grew at a 2 percent annualized rate over the past three months, a step down after three straight quarters exceeding or near a 3 percent pace, according to the median estimate in a Bloomberg survey ahead of Commerce Department figures due Friday. Consumer spending, the biggest part of the economy, is projected to advance 1.1 percent, the least since mid-2013. Business investment likely cooled, too, from its recent torrid pace.While the GDP gain may be the best for any first quarter since 2015, the softness is a reminder that the period remains plagued by data quirks the government is trying to remedy. The expected results also underline the difficulty of achieving President Donald Trump’s goal of 3 percent sustained growth, despite corporate and individual tax cuts that went into effect in January.Demand is expected to regain a firmer … [Read more...] about The U.S. Is About to See How Deep the First-Quarter GDP Pothole Is