Saturday, 17 August, 2019

China's GDP Growth Dips to 6.2% in Second Quarter

China's economy grows at slowest pace since 1990s China GDP growth slows to 6.2% in second quarter
Russell Knight | 15 July, 2019, 10:44

China's economy is slumping as it feels the effects of a prolonged trade war with the United States.

Asian markets slipped on Monday as data showed China's economy growing at its weakest pace in almost three decades, hit by the USA trade war, while investors debate the depth of an expected Federal Reserve interest rate cut.

In the first half of this year, China's economy grew 6.3% year-on-year, according to data from the National Bureau of Statistics (NBS).

Forecasters had expected China's economy to rebound in late 2018 but pushed back that target after President Donald Trump hiked USA tariffs on Chinese imports to pressure Beijing over its efforts to develop advanced technologies.

"Economic conditions are still severe both at home and overseas, global economic growth is slowing down and the external instabilities and uncertainties are increasing", said NBS spokesman Mao Shengyong. "The economy is under new downward pressure", he said in prepared remarks.

China has moved to stimulate its economy this year by boosting spending and delivering tax cuts.

Fixed-asset investments for the first half of the year rose 5.8 percent from a year earlier, compared with a 5.5 percent rise forecast by analysts.

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

Trump says immigrant deportations to start this weekend in 10 cities
ICE is expected to target families whose immigration cases were handled through an expedited court process that began in 2018. Trump warned last month about the planned deportations, which were earlier reported by the New York Times .

Use Alexa to get early Prime Day deals without lifting a finger
It will also have a deal on two legging and bra sets from Amazon Fashion brand Core 10. "Alexa, order the $85 Kindle Paperwhite". But before you even start searching for deals, it's important to know all the places where you should be looking for discounts.

House votes to restrain Trump on Iran amid tensions
Omar and Ocasio-Cortez are so radical and anti-American that they are ensuring President Trump's reelection next year. So, Pelosi compromised, agreeing to a more generic border funding bill that didn't require better treatment.

China's 1.3 billion consumers have continued to buoy the economy with retail sales up 9.8% on-year in June, up from 8.6% in May.

Net exports contributed to 20.7% to output growth in the first half, down from 22.8% in the first quarter.

The trade war with the U.S. has hit demand for China's goods, compounding slowing demand from the rest of the world. Urban unemployment ticked up to 5.1 percent for the month, from 5.0 per cent in May.

Financial markets are closely watching the health of the Chinese economy as the year-long Sino-US trade war takes a heavier toll on businesses and investment, fuelling worries of a global recession.

Other economic indicators, however, surpassed market expectations.

It helped push China's manufacturing activity into contraction last month and its exports to the U.S. dropped more than 8 percent over the first half of the year.

The reading highlights the negative impact the U.S. tariffs stand-off is having on China as leaders also try to recalibrate the growth model from exports and state investment to one driven by consumer spending. While the two sides have since agreed to resume trade talks and hold off on further punitive action, they remain at odds over significant issues needed for an agreement.

"That said, we believe the PBoC will still be supportive of liquidity".

Recommended

  • Five words sum up Roger Federer's Wimbledon grief

    Five words sum up Roger Federer's Wimbledon grief

    Made it seem as though he might be British, not Swiss. "Unfortunately one player has to lose and we both had our chances". He sent a forehand wide on the first championship point, and Djokovic produced a cross-court forehand victor on the next.
    Huawei will reportedly lay off hundreds of U.S.  workers

    Huawei will reportedly lay off hundreds of U.S. workers

    The U.S. has also said Huawei is a national security issue - not a trade problem - amid the ongoing trade dispute with China. Separately, Huawei has shut down its USA sales of solar inverters, Roth Capital Partners said in a research note in June.
    Jeffrey Epstein donated 15k to UES all-girls school blocks from mansion

    Jeffrey Epstein donated 15k to UES all-girls school blocks from mansion

    According to the New York Times , the allegation was revealed in a new court filing in which " prosecutors said that Mr. The documents also said Mr Epstein was worth at least $500 million, and posed a "tremendous risk of flight".
  • Huawei files to trademark ‘Harmony’ OS

    Huawei files to trademark ‘Harmony’ OS

    Liang was also quick to add that his company still preferred to work with Google and Android to develop its mobile devices. At the moment, Huawei remains on U.S. blacklist as a potential security threat, despite Trump's reassurance.
    WWE superstar arrested by Myrtle Beach police

    WWE superstar arrested by Myrtle Beach police

    WWE star Jeff Hardy was arrested this weekend in SC for alleged public intoxication and impairment, per a report from TMZ . He spent multiple stints in TNA wrestling, a competitor to WWE, and won its heavyweight title as well.
    Wait goes on for Williams as inspired Halep wins Wimbledon

    Wait goes on for Williams as inspired Halep wins Wimbledon

    However, Saturday's match was all Halep - who said she had never played a better round. "So I didn't think of anything at all". Serena Williams's march towards the Wimbledon final has seen some rocky moments. "I always play well when I have emotions.
  • Will the partial eclipse of the Moon be visible in the UK?

    Will the partial eclipse of the Moon be visible in the UK?

    The Moon will rise soon after, around 9.06pm BST (8.06pm) and maximum eclipse will peak at 10.31pm BST (9.31 UTC). The partial Eclipse lasts about three hours and is to be seen in Germany shortly after 22 o'clock in the night.
    Gina Miller criticised for trying to 'derail' Brexit

    Gina Miller criticised for trying to 'derail' Brexit

    Theresa May says MPs are so entrenched over Brexit, they could not compromise on a deal for Britain's departure from the EU. Mrs May said she had underestimated the unwillingness of some people in parliament to compromise to deliver Brexit.
    Kane Williamson breaks another record at World Cup

    Kane Williamson breaks another record at World Cup

    I think they will create history at Lord's by winning their first ever 50-over World Cup. "I guess anything's possible (smiling)".
  • Every Nintendo Switch game in the Amazon Prime Day sale

    Every Nintendo Switch game in the Amazon Prime Day sale

    One of the best Prime Day deals we've found is, in fact, not an Amazon offering at all, but is from Walmart's concurrent sale. According to FOX 7 , the annual event is one of the biggest shopping days of the year and cyber-criminals know that.
    Wild video shows National Football League  lineman Malik McDowell wrestle cop after being tased

    Wild video shows National Football League lineman Malik McDowell wrestle cop after being tased

    An officer said he witnessed McDowell's Jeep spinning out on the snowy road and said he was speeding. One more officer hasty enters and McDowell makes an strive to put off her gun as effectively.
    French duo boosts home country's hopes at Tour de France

    French duo boosts home country's hopes at Tour de France

    Alaphilippe will be the first Frenchman to wear the yellow jersey on Bastille Day since Tony Gallopin in 2014. He knew he had a golden chance to get it back on rollercoaster terrain, which suited his skills.

Why England star Jason Roy will be anxious Why England star Jason Roy will be anxious Dharamsena was wrong in giving Roy out and it led social media to run a campaign to remove the umpire from the final. He was also named ICC's best umpire three years in a row from 2009 to 2011.

Iran is violating nuclear deal, enriching uranium Iran is violating nuclear deal, enriching uranium Apart from the USA and Iran, all parties concluded that it's best for them to remain committed to preserving the original deal. Argentina's IAEA Ambassador Rafael Grossi says the US and Iran have worked themselves into a hard position.

Amir Khan Too Big, Too Fast - Puts Away Billy Dib in Four Amir Khan Too Big, Too Fast - Puts Away Billy Dib in Four Khan floored Dib in the second round with a ferocious left hook at the King Abdullah Sports City Stadium in Jeddah . Amir Khan collected a lucrative £7m pay package for his performance against Billy Dib in Saudi Arabia.

Rangoli Chandel shared a letter and slamming out individuals Rangoli Chandel shared a letter and slamming out individuals Talking about her film JudgeMentall Hai Kya , it is touted to be a crime drama and features Kangana and Rajkummar in lead roles.

Leave the US, Trump tells Democratic congresswomen of color Leave the US, Trump tells Democratic congresswomen of color Many were quick to note that the congresswomen the president was criticizing , with the exception of Rep. Chakrabarti's response: I think the point still stands.

Jenelle Evans Says She Lied About Husband Shooting Dog But Questions Remain Jenelle Evans Says She Lied About Husband Shooting Dog But Questions Remain Jenelle Evans has said she didn't make up a story about her dog's death for publicity, in response to claims by police. Two months after the now alleged incident, Evans is claiming she does not know for certain Eason shot the dog.

Djokovic beats Federer in Wimbledon epic to win fifth title Djokovic beats Federer in Wimbledon epic to win fifth title It'll either be Wimbledon championship No. 9 for Roger Federer or No. 5 for Novak Djokovic when they meet in the final. Djokovic looked stunned after Federer shanked a forehand on the last point, sending the ball skyward.

French President Macron announces creation of a space force command French President Macron announces creation of a space force command Police reportedly arrested three key members of the yellow vest movement, including its ideologist, Eric Drouet. President Emmanuel Macron oversaw the events on Sunday which showcased Europe's defence co-operation.

Mum arrested after daughter licks medical supply before putting it back Mum arrested after daughter licks medical supply before putting it back A prominent sign was hanging on the wall above the jar reading: "Please do not touch medical supplies, thank you". The center removed all items in the examination room and re-sanitized the area after the incident, reports say.

1st LD: 6.6-magnitude quake hits northwest off Australia 1st LD: 6.6-magnitude quake hits northwest off Australia Deb Hannagan, from Broome, tweeted: 'We just had an quake in Broome! The whole house was shaking and it went for ages. The quake struck about 200 kilometres off the coast, between Broome and Port Hedland at 1.39pm local time.

Christchurch shootings: New Zealanders hand over guns Christchurch shootings: New Zealanders hand over guns Mr Tarrant in June pleaded not guilty to terrorism charges , as well as 51 counts of murder and 40 of attempted murder. More than $1 million worth of weapons have been handed over after the first weekend of the Government's gun buyback.

Kate makes third visit to Wimbledon to watch men's final with William Kate makes third visit to Wimbledon to watch men's final with William The 56-minute dissection of the Williams playbook was the 23-time Slam winner's most lopsided loss in a major final. But at that point her opponent, Serena Williams , was shuffling towards the net, head bowed and hand outstretched.

Prime Day pro tip: Find extra deals with Amazon's app Prime Day pro tip: Find extra deals with Amazon's app Cinephiles will find deals on movie rentals and DVDs on Amazon's Prime Video website and the Prime Video app. But if you are a Prime member, you'll get access to all of the Prime benefits that Amazon shoppers love.

Wimbledon final: What time does Roger Federer vs. Novak Djokovic start? Wimbledon final: What time does Roger Federer vs. Novak Djokovic start? Federer is widely considered to be the greatest grass court player - if not the greatest ever - having won Wimbledon eight times . This win will either be No. 9 for Federer or No. 5 for Djokovic, won previously both matchups, in 2014 and 2015.

Man dies after United States immigration jail attack Man dies after United States  immigration jail attack Police said the man caused a vehicle to catch fire and that he attempted to ignite a propane tank to set buildings on fire. The officers involved, who were not injured, retreated, and "medical aid was staged" nearby, according to police.