China industrial output growth falls to 17-year low
#1
China industrial output growth falls to 17-year low


March 14, 2019

BEIJING (Reuters) - Growth in China’s industrial output fell to a 17-year low in the first two months of the year and the jobless rate rose, pointing to further weakness in the world’s second-biggest economy that is likely to trigger more support measures from Beijing.


[Image: W5DjJA.jpg]


China is ramping up assistance for the economy as 2019 growth looks set to plumb 29-year lows, but support measures are taking time to kick in. Most analysts believe activity may not convincingly stabilise until the middle of the year.

Premier Li Keqiang last week announced hundreds of billions of dollars in additional tax cuts and infrastructure spending, even as officials vowed they would not resort to massive stimulus like in the past, which produced swift recoveries in China and strong reflationary pulses worldwide.

“The latest data should partially ease concerns about a sharp slowdown at the start of the year. But the near-term outlook still looks downbeat,” Capital Economics said in a note.

In particular, Capital Economics and others noted that infrastructure investment has not improved as much as hoped after the government began fast-tracking road and rail projects last year, raising the risk of a milder-than-expected bounce in construction when work resumes in warmer weather.

Pressured by weak demand at home and abroad, China’s industrial output rose 5.3 percent in January-February, less than expected and the slowest pace since early 2002. Growth had been expected to cool to 5.5 percent from December’s 5.7 percent.

China combines January and February activity data in an attempt to smooth distortions created by the long Lunar New Year holidays early each year, but some analysts say a clearer picture of the economy’s health may not emerge until first-quarter data is released in April.

If the seasonal distortion was removed, output rose 6.1 percent in the two months, the National Bureau of Statistics said.

China’s own official factory survey, which is seasonally adjusted, showed manufacturing output contracted in February for the first time since January 2009.

Data last week showed exports tumbled the most in three years in February, suggesting U.S. tariffs on Chinese goods and cooling global demand were taking a greater toll.

President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations.

Job shedding by export-oriented companies led to a jump in the unemployment rate last month, said Li Xiru, an official with the statistics bureau.

China’s survey-based jobless rate rose to 5.3 percent in February, from 4.9 percent in December, though it was below the government’s target of 5.5 percent this year.

Many migrant workers also quit their jobs to go home before the holidays, Li said.

Reuters reported in January that some factories in Guangdong - China’s export hub - had shut earlier than usual ahead of the holidays, and some were expected to close for good as the trade war curtailed orders.

For 支那 Alimama and all her 40 clones(talkingsmart, buick, PJM, , amada, alanis, ,XXX, genie, hillview, niubee, SotongOngTee, yummysukiyaki etc) :
屌你 polanski aka amata 的老母 !
To all smelly ChewHooKias:
Get the F out of S'pore !
Quote
#2
Laughing
Quote
#3
13-3-2019 12:49 PM
century said:
Chinese Exports Collapse In February Despite Largest Credit Injection Ever
Thu, 03/07/2019


China export collapse with largest credit injection last month....what happen if they dont print $$ & cut rate, will be much much worse, many company will bankrupt & close down......
china debt is super huge, ponzi bubble burst anytime....that is why need to keep print $$ to sustain, at least interest can be settle 1st, but ton of bonds & loan are up to redeem....
manufacturing PMI down, BDI crash, now trade & export also meltdown....
after cut rate, now cut tax....more backfire to come....print till like venezuella or zimbabwee?....saw a thread here RMB will down by 30%?....let see.... thumbs up Laughing


[quote="century" pid='3329062' dateline='1552527095']
中共高层已经决定放弃苦撑房地产泡沫



china property is the biggest bubble today, if crash, then can see china economy melting down....
tons of ghost towns in china but they try to sustain this bubble....all bubble will burst...
with stringent external condition, if trade war continue, many companies bankrupt...ton lost their jobs, then many cannot afford to pay their housing loan & default....developers still have tons of unsold to lelong & dump...cash flow is tight, liquidity dry up....once govt cannot sustain like above, then tragedy....US should continue to hike rate to burst all property bubble globally....

13-3-2019 11:02 AM
century said:
內地手機出貨跌兩成
13/3/19



communist dogs everyday bark Iphone sale down....all down....china phone output down 15% for consecutively 2 yrs....last month down 20% compared to last yr....china brand phone sale plunging....
not many people buy hp now as all the design, features, copy each others, nothing new or worthwhile....
sale down, price down....time for some china hp company to close down ....
with trade war & global economy continue to down....PMI, BDI.....time for some factories to close too..... thumbs up Laughing





with above & many more in https://sgtalk.org/mybb/Thread-China-nev........their number already too optimistic & with flaw....
from korea, japan & most country trade with china plunges....import/export of china & US melt down...Europe & the world trade too.....their industrial output & unemployment sure jialat...must worse than they claimed....self claimed whatever they want....
they bark investment up due to they printed historical amount in 1st 2 month of 2019, spend on white elephant of fixed asset build to boost the number.....no economical value, just spending by govt to get investment number...economy down, all these investment has no use & value.... thumbs up
Quote
#4
China is the manufacturing hub for the world. It just indicate rest of the world is slowing down . Retailing in China did not drop much shows the slow down is much due to external factors and China QT process.
Quote
#5
內地經濟仍乏力


china domestic consumption also down a lot.....unemployment shoot up.....
商品房銷售額大幅回落....
社會消費品零售總額低於前值....
汽車生產按年跌15%,已連續八個月倒退....
二月底內地失業率從去年底的4.9%飆至5.3%.....
of course external demand also down.....global trade down, economy down....impot/export down too.... thumbs up
Quote
#6







川普亮出贸易战的最后底牌:我不急!这下轮到习近平真要急了.


trump-xi meeting delay till april or even later or may not meet at all for china-US trade war.....trade war continue & continue to escalate....
china economy will be much worse if this goes on....china domestic & global trade already down a lot...more jobless & lost to come...more investment outflow....
Xi will be in panic mode....Xi has lot of problems with his premier & many top leaders now....political crack may see sooner than later with economy sink all the way.... thumbs up
Quote
#7
北上广深莞出手 楼市突然减税 透露什么信号?
14/3/19


suddenly cut all the transaction tax for property, what happen? real panic liao.....
all these to cities in china, property price & sales down....real desperate, so fast cut a few type of taxes to attract buyers....developers already down price still not enough....
how about small town, ghost town....over build, over price....just wait for melt down....
if china property crash, the biggest fake & ponzi pillar of china economy, that will definitely shake the core of china....
how prc will react? revolution if tons lost their job, then lost their wealth overnight?...... thumbs up
Quote
#8
15-3-2019 6:44 AM
century said:
with above & many more in https://sgtalk.org/mybb/Thread-China-nev........their number already too optimistic & with flaw....
from korea, japan & most country trade with china plunges....import/export of china & US melt down...Europe & the world trade too.....their industrial output & unemployment sure jialat...must worse than they claimed....self claimed whatever they want....
they bark investment up due to they printed historical amount in 1st 2 month of 2019, spend on white elephant of fixed asset build to boost the number.....no economical value, just spending by govt to get investment number...economy down, all these investment has no use & value.... thumbs up



investment up? from where? from their printing $$ machine, that is all...... Rolling on the flor laughing
Quote
#9
Chinese Exports Collapse In February Despite Largest Credit Injection Ever
Thu, 03/07/2019


China export collapse with largest credit injection last month....what happen if they dont print $$ & cut rate, will be much much worse, many company will bankrupt & close down......
china debt is super huge, ponzi bubble burst anytime....that is why need to keep print $$ to sustain, at least interest can be settle 1st, but ton of bonds & loan are up to redeem....
manufacturing PMI down, BDI crash, now trade & export also meltdown....
after cut rate, now cut tax....more backfire to come....print till like venezuella or zimbabwee?....saw a thread here RMB will down by 30%?....let see.... thumbs up Laughing
[/quote]


china trade & export already plunging, tax collection also plunging...yet they cut tax, deficit will jump...need to print & print, till like venezuella?....... thumbs up
Quote
#10
15-3-2019 7:37 AM
bigbro said:
China is the manufacturing hub for the world. It just indicate rest of the world is slowing down . Retailing in China did not drop much shows the slow down is much due to external factors and China QT process.

thumbs up
Quote
Users browsing: 1 Guest(s)


Forum Jump: