China Trade Data is Nail in the Coffin of Global Economy

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Published : January 14th, 2019
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Category : Opinions and Analysis

Chinese exports and imports even though China's trade balance with the US rose.

The export figures are a focus and they are poor indeed. But save some space in the barf bag for the import results, they are terrible - huge miss on these.

Demand in China has been showing evidence of slowing. This is a nail in the coffin.

December 2018 Data - Yuan Terms

  • China trade balance comes in at CNY 395bn, expected CNY 345bn, prior was CNY 306bn
  • Exports 0.2% y/y, expected 6.6%, prior was 10.2%... BIG MISS
  • Imports -3.1% y/y, expected 12.0%, prior was 7.8% … even bigger miss

December 2018 Data - US Dollar Terms

  • China trade balance USD 57.06bn, expected $51.6bn, prior was $44.7bn
  • Exports -4.4% y/y, expected 2.0%, prior 5.4%
  • Imports -7.6% y/y, expected 4.5%, prior was 3.0%

Tariff Man

Chinese Investment in the US Slumps to 7-Yr Low

Including $13bn in US asset divestitures by Chinese investors, China’s net US investment actually shrank by $8bn in 2018.

Negative Revisions

Worst China Data in 15 Years

Expect "Greatest Deal Ever"

Both the US and China desperately need a deal.

And should there be a deal, expect announcements of the "greatest deal ever" no matter how trivial the deal really is.

Europe Likely in Recession Now: Germany, France, Italy Production Collapsed

German, French, and Italian industrial production collapsed in November. Italy GDP is negative for 3rd Quarter.

A global recession is on deck.

Source : moneymaven.io
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IMG Auteur
Mish 13 abonnés
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
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