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Trade war trumps the protests, for now Hong Kong’s economy lost momentum last quarter. Slower trade flows are more to blame for this than the recent protests, adding to downbeat signs on the health of the global economy. Hong Kong’s GDP growth held steady …
31st July 2019
The soft data still point to a slowdown The latest surveys remain consistent with a renewed slowdown in growth. Downward pressure on factory activity eased this month, but momentum in services and construction weakened. The official manufacturing PMI rose …
Growth moderated in Q2 despite June uptick A stronger end to the quarter didn’t prevent growth from slowing in Q2 and we see more weakness on the horizon. Activity held up better than anticipated, but we expect this strength to be temporary. GDP growth …
15th July 2019
Trade softens as headwinds intensify Exports declined last month as a result of the step-up in US tariffs in May and waning global demand. Imports also weakened on the back of a renewed domestic slowdown. Export growth turned negative in June, falling …
12th July 2019
Credit growth extends its modest recovery A shift toward fiscal easing helped to push up credit growth last month but the pace of lending remained relatively weak and still looks consistent with a further slowdown in economic growth. Chinese banks …
African swine fever continues to take its toll Lower oil prices kept headline inflation stable last month despite a further rise in pork prices. But with pig stocks still tumbling we think increases in consumer prices will start to accelerate again before …
10th July 2019
Activity cools heading into Q3 The latest survey data suggest that China’s economy is coming under renewed pressure as a result of cooling foreign demand and waning fiscal support, which should trigger further monetary easing. The Caixin manufacturing PMI …
1st July 2019