Global Economic Data & News 03 (May 22 - Dec 25)

[winston]

Factory slowdown in China, Europe raises alarm bells

Factory activity in June both in China and the eurozone, disappointed the market and deepened concerns about weakening global demand.

The Caixin/S&P Global manufacturing purchasing managers' index (PMI) eased to 50.5 in June from 50.9 in May, indicating a marginal expansion in activity. The 50-point mark separates growth from contraction.

The figure, combined with Friday's official survey that showed factory activity extending declines, adds to evidence the world's No 2 economy lost momentum in the second quarter as demand weakened.

The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers and, according to economists, focuses more on export-oriented firms in coastal regions, while the official PMI surveys 3,200 companies across China.

Additionally, China's growing youth unemployment rate could trigger political problems if not properly handled. China's unemployment rate among those aged between 16 and 24 reached a record of 20.8 percent in May.

In the eurozone, HCOB's final manufacturing PMI, compiled by S&P Global, fell to 43.4 from May's 44.8, its lowest since the Covid pandemic was cementing its grip on the world, below a preliminary reading of 43.6 and further from the 50 mark separating growth from contraction.

"There is growing evidence that the capital-intensive industrial sector is reacting negatively to the ECB's interest rate hikes," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

Data due later yesterday was expected to show a further contraction in the United States.

Source: AP

https://www.thestandard.com.hk/section- ... larm-bells

[behappyalways]

The international debut after the Russian Mutinyi! Putin and Xi Jinping use the "Shanghai Cooperation Summit" to expand their influence

俄兵變後國際首秀! 普欽.習近平藉「上合峰會」擴影響力｜錢麗如｜FOCUS全球新聞 20230705 @tvbsfocus

https://m.youtube.com/watch?v=H-0UAUpSa2o

[behappyalways]

AI explosion can't save TSMC from recession?

AI大爆發卻無法挽救台積電衰退？陳鳳馨揭原因【#風向龍鳳配 】

https://m.youtube.com/watch?v=tnpu6AXVz1M

[behappyalways]

Global Office Properties - Where countries are in the cycle
https://twitter.com/AyeshaTariq/status/ ... 9124905984

[behappyalways]

Yingbu builds an AI tracking system, only watching but not saving! Refugees are buried in the bottom of the sea

英布建AI追蹤系統 只看不救!難民葬身海底｜秦綾謙｜FOCUS全球新聞 20230801@tvbsfocus

https://m.youtube.com/watch?v=uM-brZ1Ptbo

[behappyalways]

Major Shipper Maersk Warns Of Prolonged And Deeper Downturn In Global Trade
https://www.zerohedge.com/commodities/m ... obal-trade


Charts of the Week

Government spending on interest is surging, nearing $1T/year annualized.

Consumer loans tightening, point to weaker payrolls in the months ahead.

Global manufacturing PMI is in a meaningful multi-month contraction, which started last summer and has been deepening since.

In China, youth unemployment is at an all-time high since record keeping started, which is a troubling sign for an economy that is continuing to show signs that the reopening isn’t playing out as hoped.

In England & Wales bankruptcies are surging close to their Great Financial Crisis peak as the economy experiences a potentially serious dislocation with high inflation, housing that’s in disarray, and signs of recession building.

Source: Macrovisor

https://www.macrovisor.com/p/charts-of- ... tter&sd=pf

[behappyalways]

The largest scale! The Sino-Russian fleet is approaching the coast of Alaska, competing for the North Pole. Challenges allies

規模最大!中俄艦隊逼近美阿拉斯加海岸 爭北極.挑戰盟友關係｜方念華｜FOCUS全球新聞 20230808@tvbsfocus

https://m.youtube.com/watch?v=iWunCh9Kerw

[behappyalways]

Another Recession Signal: Plunge In Demand For Gold In The Electronics Sector
https://www.zerohedge.com/economics/ano ... ics-sector

[winston]

Global household wealth falling

Global household wealth fell last year for the first time since the financial crisis in 2008, as inflation and the appreciation of the US dollar wiped away some $11.3 trillion off assets.

Total net private wealth across the world decreased by 2.4% to a total of $454.4 trillion, according to Credit Suisse’s annual global wealth report published on Tuesday.

The bulk of the decline was felt in North American and European households, which lost a combined $10.9 trillion.

Source: Bloomberg

https://www.bloomberg.com/news/articles ... mbergdaily

[behappyalways]

Burning the Koran and cutting off NATO roads?
Sweden worries about revenge.
Anti-terrorism alert raised

焚可蘭經燒斷北約路?瑞典憂報復.升反恐警戒｜方念華｜FOCUS全球新聞 20230818@tvbsfocus

https://m.youtube.com/watch?v=SdbmOdcRZYM