Saturday , February 22 2020
Home / israel / Hong Kong was the first recession in ten years business

Hong Kong was the first recession in ten years business



Good morning and welcome by closing the world economy, financial markets, eurozone and business world.

There are signs of economic weakness this morning in China, and Europe may soon contribute to the gloom of Halloween.

According to new official figures, Chines factory activity contracted for six months in October.

The official China Purchasing Managers Survey for the Chinese manufacturing industry fell from 49.8 to 49.3, released overnight. This is the sixth month when the PMI plant fell below the 50-point mark.

This is another sign that China's economy has weakened after more than a year of commercial conflicts.

As Stephen Innes of Axitrader said:


Due to trade tensions, the data was terrible and the slow recovery in domestic demand continued to weigh on the manufacturing sector.

Last night, the US Federal Reserve said the US-China trade war was a key risk for America's economic expansion because it lowered interest rates for the third time this year.

This pushed Wall Street to new record levels at the end of trading, as we wrote on last night's blog:

Yesterday we learned that the US economy slowed down by 1.9% (or almost 0.5% of the quarter) in the last quarter.

But Europe would love such a performance. Euro zone growth data may indicate that this morning's growth has declined from 0.2% in the April-June period to just 0.1% in the July-September period.

France fears that the German recession and a stagnant Italian economy will keep the eurozone behind, as it grows by 0.3%. We learn at 10 in the morning.

Howard Archer
(@Howardarcheruk)

Early proof #Eurozo to #GDP #growth in the third quarter (preliminary "flash" forecast was announced on Thursday). Data to date have increased by 0.3% q / q in the third quarter #France0.4% q / q #Belgium & 0.2% q / q #Austria. Very real possibility #Germany Modest Q3 Q / Q saw contraction


October 30, 2019

The markets are expected to remain calm this morning, as investors absorbed the Fed's cutoff last night, and the strong results of the two technology giants came.

Apple generated record revenue in the last quarter due to strong demand for iPhone and wearable technology and delivered $ 64 billion.

Facebook also has the best estimates, with 29% increase in revenues. Despite constant criticism from the social media giant, it increased its monthly used base by 1.65% to 2.45 billion.

ıgsquawk
(@Igsquawk)

European Calls for Opening:#FTS to 7329 – 0.03%#DAX 12922 + 0.09%#CAC 5773 + 0.12%#MIB 22701 + 0.24%#IBEX 9279 – 0.06%#STOXX 3621 + 0.03%


October 31, 2019

In the city, Lloyds Banking Group provided another £ 1.8 billion in PPI, and oil giant Shell saw a 15% drop in profit due to lower crude oil prices (read more about the two stories …)

Agenda

  • 10:00 GMT: Euro zone inflation in October
  • 10:00 GMT: Euro zone third quarter GDP (first estimate)
  • 11:00 GMT: Italy third quarter GDP
  • 20:30 GMT: Canada's GDP report for August


Source link