China’s manufacturing economy slumped in April, with the purchasing managers index (PMI) for the sector slipping from 51.9 in March to 49.2 last month.
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SPOTLIGHT: CHINA
China’s export economy expanded by 14.8 percent last month, overcoming a sluggish world economy by increasing sales of electric vehicles (EVs) and related items, and also by expanding its trade with Russia, the Financial Times reported.
SPOTLIGHT: REAL ESTATE’S TAILSPIN
About $175 billion of real estate debt is classified as “distressed,” meaning there is a growing likelihood of it not being repaid, according to data compiled by Bloomberg.
SPOTLIGHT: CHINA STRUGGLES TO RIGHT ITS ECONOMY
China’s economic activity in construction, manufacturing, and services slowed more than expected in November, hobbled by continuing, widespread anti-COVID lockdowns, an unresolved financial crisis in the real estate sector, and fewer orders for the country’s factory output.
SPOTLIGHT: CHINA
Shops and warehouses in the U.S. and Europe are overstocked with inventory, causing orders for new goods from China’s factories to plunge by as much as 50 percent last month, according to the Financial Times.
REFINANCING DEBT COULD ADD $1 TRILLION TO COSTS
Emerging nations and wobbly corporations needing to refinance debt will need to pay interest an average of 1.56 percentage points higher than the current rate for the same securities—a total of $1.01 billion extra, according to Bloomberg’s analysis of bonds owed by current public-and private-sector debtors.
SPOTLIGHT: CHINA
CHINA’S ECONOMIC DATA PAINTS MIXED PICTURE On 16 September, China’s National Bureau of Statistics released data showing that home prices continue to fall and consumer spending remains relatively feeble. In contrast, new jobs were added and infrastructure investment, a tried and true means for government agencies to goose the economy, increased. Across 70 major cities,...
SPOTLIGHT: CHINA
CHINA SOLIDIFYING ITS POSITION AS MANUFACTURER TO THE WORLD Despite corporations’ new determination to bring supply chains geographically closer to their factories, China is likely to continue to dominate global manufacturing, The Wall Street Journal reported. China’s share of global factory output edged up from 13 percent in 2019 to 15 percent post-COVID and probably...
SPOTLIGHT: CHINA
INVESTORS CIRCLE BACK TO CHINA In June, investors put more than $6 billion into 20 international funds focused on Chinese stocks, more than in any month since early 2021, according to Morningstar. Investors are betting on signs that China’s crackdown on its tech sector may be easing and that the worst of the country’s property...
CHINA’S GDP EDGES UP IN MAY
China’s economic output grew slightly in May after most of the country’s two-months-long anti-COVID restrictions were eased, allowing people back to work and to stores. Industrial production expanded 0.7 percent year over year, reversing April’s 3-percent slump amid the lockdowns. Consumer spending decreased 6.7 percent in May compared to a year earlier, easing back from...