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Is the Chinese Economy Stabilizing?

Posted by Michael J. O'Connor | CWS®, Vice President Investments

September 1, 2013

 

WrapManager’s Weekly Summary of Market and Economic News

 

According to recent data released by the National Bureau of Statistics, the Chinese economy is stabilizing and should be able to meet growth targets on the year of 7.5%. The government has recently introduced policy measures of eliminating taxes on small businesses and increasing investment in urban infrastructure and railways to help give the slowing economy a boost.1

 

China’s Long-Term Economic Goals

 

Over the long-term, China continues to indicate that they will tolerate lower growth rates as they move to reform the economy. Their goal is to rely less on exports and debt-finance construction for growth, and focus more on domestic demand while also reducing pollution and social inequality.1

 

Is the US Economy Slowing Down?

 

Many analysts were optimistic there would be a pickup in economic activity in the second half of the year, but recent data point to a potential softening in the US economy. Spending, which accounts for approximately two-thirds of the US economy, was fairly weak in July, rising by a modest 0.1%. Inflation for the month was also tame, rising only 0.1% to 1.4%.2

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Economic/Market Outlook

Eurozone Exits Longest Recession in 40 Years

August 18, 2013
WrapManager’s Weekly Summary of Market and Economic News Eurozone Exits Longest Recession in Over 40 Years> Initial reports have the Eurozone posting 0.3% growth in the second quarter, signaling the Eurozone may have exited its longest recession in over 40 years. France and Germany helped pull the Eurozone up with 0.7% and 0.5% GDP growth, respectively, however Spain, Italy, and the Netherlands still posted negative GDP numbers. In spite of potentially having exited its longest recession in 40 years, the Eurozone still carries a 12.1% unemployment rate as of June.1 That is almost double the current unemployment rate in the U.S., which as of July stood at 7.4%.2 Japanese Debt Tops 1 Quadrillion Yen Japan’s outstanding debt (including borrowings) rose to a record 1,008.6 trillion yen, representing the most debt held by any country in the world. The fact that Japanese debt tops 1 quadrillion yen also means it’s debt burden is larger than the economies of Germany, France, and the UK—combined. [+] Read More

Is the Eurozone Recession Ending? - The Wrap

August 13, 2013
WrapManager’s Weekly Summary of Market and Economic News Eurozone Recession Showing Signs of Ending In a sign the eurozone recession may finally be over, Germany posted robust 3.8% growth in factory orders from May this week, far outstripping estimates for 1.1% growth and marking the best growth in 8 months. Italy added good news into the mix as well, in reporting that their GDP fell by only 0.2% in the second quarter, versus a 0.4% expected contraction. They’re inching towards positive GDP growth, as their GDP in the first quarter was -0.6%. Economic activity is picking up.1 The UK Reporting Strong Numbers in Services and Retail The UK is also seeing a nice economic boost. The services sector expanded last month at its fastest pace in more than six and a half years, and retail sales also posted strong gains as total sales grew 3.6% in July, marking the best July growth since 2006.3 [+] Read More
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