BEIJING—Persistent weakness last month in China’s property market and manufacturing sector, which combined account for half of the country’s gross domestic product (GDP), renews risks to its recovery already threatened by disruptions from widespread COVID curbs. Nearly 70 Chinese cities reported declines in new home prices in August, the most since the start of the…
China’s GDP Growth May Fall Below 3 Percent Amid Severe Drought, Power Crunch: Economist
September 1, 2022
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ChinaChina Business & EconomyChinas GDPCOVID-19 restrictionsdroughtsGDPgdp growthheatwavesPower CrisisPower Crunchwater crisiszero-covid policy
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A power crunch and record heatwaves in China have disrupted factories, offices, farmlands, and many of the cities’ essential functions. Some subway stations are reportedly dimmed, with little to no lighting. Dan Wang, chief economist of Hang Seng Bank (China) told CNBC that the power crisis and droughts would likely cause China’s GDP growth to…
America’s Economy Fell Into a Technical Recession, New GDP Data Confirms
The latest readings on U.S. gross domestic product for the second quarter, saw the American economy contract at a slightly slower pace than was previously reported, but the data shows that it still remains in a technical recession. An increase in interest rates caused by 41-year high inflation, curtailed U.S. consumer spending growth in the first half…
Capitol Report (Aug. 25): Rep. Marjorie Taylor Greene’s Home Swatted Again; DHS Disinformation Board Ended
August 25, 2022
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Capitol ReportDepartment of Homeland Securitydisinformation governance boardDonald TrumpEpochTVGDPgovernment censorshipJustice DepartmentMarjorie Taylor GreeneMarsha BlackburnMitch McConnellRep. Russ Fulcherstudent debtswattingTAIPEIUSUS News
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A federal judge has ordered the Trump raid affidavit to be unsealed with redactions. It comes right after the Justice Department makes a move to suggest portions be blacked out. Congresswoman Marjorie Taylor Greene has been a victim of swatting two nights in a row. She says that her life has been put in danger,…
UK GDP Estimated to Have Fallen by 0.1 Percent in Second Quarter
The UK’s real gross domestic product (GDP) is estimated to have fallen by 0.6 percent in June and by 0.1 percent in the second quarter, according to official figures. The Official for National Statistics (ONS) on Friday published its GDP monthly estimate for June and the first quarterly estimate for April to June. In June,…
‘Recession Is in the Air’: German Economy Stagnates in 2nd Quarter
BERLIN—The German economy stagnated in the second quarter, data showed on Friday, with the war in Ukraine, the pandemic, and supply disruptions bringing Europe’s largest economy to the edge of a downturn. Gross domestic product was unchanged quarter on quarter in adjusted terms, the federal statistics office said. A Reuters poll of economists had forecast…
Economists Debate Recession Definition as Economy Contracts in First Half of 2022
The U.S. economy contracted for the second straight quarter, falling at an annualized rate of 0.9 percent in the April-to-June period, new data from the Bureau of Economic Analysis (BEA) reveal. Although the GDP performance meets the definition of a technical recession, many economists and Wall Street firms have not been quick to declare a…
Economists Debate Recession Definition as Economy Contracts in 1st Half of 2022
The U.S. economy contracted for the second straight quarter, falling at an annualized rate of 0.9 percent in the April-to-June period, new data from the Bureau of Economic Analysis (BEA) show. Although the gross domestic product (GDP) performance meets the definition of a technical recession, many economists and Wall Street firms haven’t been quick to…
GDP Prints at a Technical Recession
NEW YORK (July 28th)—GDP printed at -0.9 percent this morning, 1.4 percentage points worse than market expectations of +0.5 percent. We had estimated the GDP to print up between nil to 0.5 percent up in our June Jobs Report. We attribute the “miss” to a continuing anomaly from the ports being cleared, discussed more below. The…
Top Economist Issues Warning as US GDP Declines for Second Straight Quarter
A top U.S. economist issued a warning after a report Thursday showed the United States posted a second consecutive quarter of negative growth. Gross domestic product fell at a 0.9 percent annualized rate last quarter, the federal government said. The country’s GDP contracted at a 1.6 percent pace in the first quarter. Mohamed A. El-Erian,…
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