While it will hardly come as a surprise to anyone following China’s dismal attempts at reflating the economy, which on Monday we learned translated into the lowest Aggregate Financing print since the series was established…
Ilhan Omar’s New Financial Disclosure Takes Americans for Fools – Claims Spouse Made as Little as $200 in 2025
Job-Seekers Learn New Hack That Makes Landing Jobs Easier, But It Also Humiliates Every College, University in US
Chicago priest tells Trump to ‘shut up’ and restore gun violence prevention funding after deadly weekend
Trump-backed housing overhaul targeting Wall Street investors clears Senate
South Carolina fitness trainer’s autopsy raises more questions about mysterious death
Chaos erupts on American Airlines flight as unruly passenger allegedly bites fellow traveler midair
Olympian charged in Reflecting Pool vandalism tied to Dem fundraising giant
Obama-era inspection flaws in Iran could persist as experts warn of nuclear blind spots
Survey Report Shows 10x as Many Strong GOP Voters Are Sure of God Than Strong Dem Voters
Watch: Celebrating Colombians Fill Streets as Trump-Endorsed Candidate Takes Presidency
Daily on Energy: Hormuz traffic up, Interior cuts public comment, and Chevron powers huge Texas data center
AIPAC accuses Van Hollen of fanning ‘antisemitic tropes’ in new social media campaign
Watch: Emotional ‘Sharia Law Survivor’ Begs Schools to Keep Out Islamism, as Lib Teen Mocks Him Literally Behind His Back
Six prime ministers, nine lives: Downing Street’s ‘chief mouser’ Larry the cat outlasts another leader
NYT’s Gonna NYT: Paper Uses Father’s Day to Pretend Being Trans Can Make a Woman a ‘Father’
Source: Bloomberg
… reaffirming Beijing’s impotence at stimulating the all-important credit impulse which is barely above cycle lows…
Ilhan Omar’s New Financial Disclosure Takes Americans for Fools – Claims Spouse Made as Little as $200 in 2025
Job-Seekers Learn New Hack That Makes Landing Jobs Easier, But It Also Humiliates Every College, University in US
Chicago priest tells Trump to ‘shut up’ and restore gun violence prevention funding after deadly weekend
Trump-backed housing overhaul targeting Wall Street investors clears Senate
South Carolina fitness trainer’s autopsy raises more questions about mysterious death
Chaos erupts on American Airlines flight as unruly passenger allegedly bites fellow traveler midair
Olympian charged in Reflecting Pool vandalism tied to Dem fundraising giant
Obama-era inspection flaws in Iran could persist as experts warn of nuclear blind spots
Survey Report Shows 10x as Many Strong GOP Voters Are Sure of God Than Strong Dem Voters
Watch: Celebrating Colombians Fill Streets as Trump-Endorsed Candidate Takes Presidency
Daily on Energy: Hormuz traffic up, Interior cuts public comment, and Chevron powers huge Texas data center
AIPAC accuses Van Hollen of fanning ‘antisemitic tropes’ in new social media campaign
Watch: Emotional ‘Sharia Law Survivor’ Begs Schools to Keep Out Islamism, as Lib Teen Mocks Him Literally Behind His Back
Six prime ministers, nine lives: Downing Street’s ‘chief mouser’ Larry the cat outlasts another leader
NYT’s Gonna NYT: Paper Uses Father’s Day to Pretend Being Trans Can Make a Woman a ‘Father’
Source: Bloomberg
… tonight’s macro data dump from China is expected to show continued slowing from Q3’s disappointing GDP print.
Bloomberg Economics’ Chang Shu notes that the October activity data are likely to show weakness continuing to spread across China’s economy, as companies adjusted to an additional 15% U.S. tariffs on $110 billion of Chinese goods in September.
- China Industrial Production MEET +5.6% YoY vs +5.6% YoY Exp
- China Retail Sales MISS +7.2% YoY vs +7.8% Exp
- China Fixed Asset Investment MISS +5.2% YoY vs +5.4% Exp.
- China Property Investment FELL to +10.3% YoY from +10.5% YoY
- China Surveyed Jobless Rate FELL to 5.1% from 5.2%
Ilhan Omar’s New Financial Disclosure Takes Americans for Fools – Claims Spouse Made as Little as $200 in 2025
Job-Seekers Learn New Hack That Makes Landing Jobs Easier, But It Also Humiliates Every College, University in US
Chicago priest tells Trump to ‘shut up’ and restore gun violence prevention funding after deadly weekend
Trump-backed housing overhaul targeting Wall Street investors clears Senate
South Carolina fitness trainer’s autopsy raises more questions about mysterious death
Chaos erupts on American Airlines flight as unruly passenger allegedly bites fellow traveler midair
Olympian charged in Reflecting Pool vandalism tied to Dem fundraising giant
Obama-era inspection flaws in Iran could persist as experts warn of nuclear blind spots
Survey Report Shows 10x as Many Strong GOP Voters Are Sure of God Than Strong Dem Voters
Watch: Celebrating Colombians Fill Streets as Trump-Endorsed Candidate Takes Presidency
Daily on Energy: Hormuz traffic up, Interior cuts public comment, and Chevron powers huge Texas data center
AIPAC accuses Van Hollen of fanning ‘antisemitic tropes’ in new social media campaign
Watch: Emotional ‘Sharia Law Survivor’ Begs Schools to Keep Out Islamism, as Lib Teen Mocks Him Literally Behind His Back
Six prime ministers, nine lives: Downing Street’s ‘chief mouser’ Larry the cat outlasts another leader
NYT’s Gonna NYT: Paper Uses Father’s Day to Pretend Being Trans Can Make a Woman a ‘Father’
This is the equal weakest retail sales growth since 2003 and weakest Fixed-Asset Investment growth since 1998..
Source: Bloomberg
This data confirms that China’s economy slowed further in October, signaling, as Bloomberg’s Miao Han notes, that policy makers’ piecemeal stimulus is failing to boost output and investment amid ongoing trade tensions with the U.S. and subdued domestic demand.
As a reminder, there was the surprising divergence in the two manufacturing PMI readings, with the “official” version weakening, and the Caixin-labeled version strengthening.
Ilhan Omar’s New Financial Disclosure Takes Americans for Fools – Claims Spouse Made as Little as $200 in 2025
Job-Seekers Learn New Hack That Makes Landing Jobs Easier, But It Also Humiliates Every College, University in US
Chicago priest tells Trump to ‘shut up’ and restore gun violence prevention funding after deadly weekend
Trump-backed housing overhaul targeting Wall Street investors clears Senate
South Carolina fitness trainer’s autopsy raises more questions about mysterious death
Chaos erupts on American Airlines flight as unruly passenger allegedly bites fellow traveler midair
Olympian charged in Reflecting Pool vandalism tied to Dem fundraising giant
Obama-era inspection flaws in Iran could persist as experts warn of nuclear blind spots
Survey Report Shows 10x as Many Strong GOP Voters Are Sure of God Than Strong Dem Voters
Watch: Celebrating Colombians Fill Streets as Trump-Endorsed Candidate Takes Presidency
Daily on Energy: Hormuz traffic up, Interior cuts public comment, and Chevron powers huge Texas data center
AIPAC accuses Van Hollen of fanning ‘antisemitic tropes’ in new social media campaign
Watch: Emotional ‘Sharia Law Survivor’ Begs Schools to Keep Out Islamism, as Lib Teen Mocks Him Literally Behind His Back
Six prime ministers, nine lives: Downing Street’s ‘chief mouser’ Larry the cat outlasts another leader
NYT’s Gonna NYT: Paper Uses Father’s Day to Pretend Being Trans Can Make a Woman a ‘Father’
Source: Bloomberg
Dow futures are exuberantly surging overnight as yuan continues to slide – disagreeing vehemently over the chances of a US-China trade deal after their joint celebrations last week…
Source: Bloomberg
Finally, as we just noted, The National Institution for Finance and Development (NIFD) on Wednesday said that China’s economic growth rate will slow to 5.8% in 2020 from an estimated 6.1% this year, a number which is already quite ambitious, not to say artificially goalseeked.
Ilhan Omar’s New Financial Disclosure Takes Americans for Fools – Claims Spouse Made as Little as $200 in 2025
Job-Seekers Learn New Hack That Makes Landing Jobs Easier, But It Also Humiliates Every College, University in US
Chicago priest tells Trump to ‘shut up’ and restore gun violence prevention funding after deadly weekend
Trump-backed housing overhaul targeting Wall Street investors clears Senate
South Carolina fitness trainer’s autopsy raises more questions about mysterious death
Chaos erupts on American Airlines flight as unruly passenger allegedly bites fellow traveler midair
Olympian charged in Reflecting Pool vandalism tied to Dem fundraising giant
Obama-era inspection flaws in Iran could persist as experts warn of nuclear blind spots
Survey Report Shows 10x as Many Strong GOP Voters Are Sure of God Than Strong Dem Voters
Watch: Celebrating Colombians Fill Streets as Trump-Endorsed Candidate Takes Presidency
Daily on Energy: Hormuz traffic up, Interior cuts public comment, and Chevron powers huge Texas data center
AIPAC accuses Van Hollen of fanning ‘antisemitic tropes’ in new social media campaign
Watch: Emotional ‘Sharia Law Survivor’ Begs Schools to Keep Out Islamism, as Lib Teen Mocks Him Literally Behind His Back
Six prime ministers, nine lives: Downing Street’s ‘chief mouser’ Larry the cat outlasts another leader
NYT’s Gonna NYT: Paper Uses Father’s Day to Pretend Being Trans Can Make a Woman a ‘Father’
This, as the SCMP notes, is at the bottom end of China’s target range of 6 to 6.5% growth for 2019, and further indicates the continued downward pressure on the economy from the trade war with the United States as well as domestic headwinds.
“The economic slowdown is already a trend,” said former central bank adviser Li Yang, who heads the institute that is affiliated to the Chinese Academy of Social Sciences (CASS).
“We must resort to deepened supply-side structural reform to change it or smooth the slowdown, rather than solely rely on monetary or fiscal stimulus.”
The institute’s forecast is in line with the International Monetary Fund, and indicates the challenge that policymakers face to achieve the above 6% growth rate needed in 2019 and 2020 to reach the government’s goal of doubling GDP in 2020 compared to its 2010 level.
As a reminder, a GDP growth rate below 6% would be the first time since the aftermath of the 1989 Tiananmen crackdown.
Finally, we note that Navarro and his trade hawks in the White House will be pleased at these weak numbers. President Trump has repeatedly said that China needs a deal more than the U.S. does, and these numbers as leverage in their negotiations.
Story cited here.
