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Utopia Talk / Politics / Fuck Trump!
Wed Aug 14 07:49:18
Ruining global economy.


Trade War Takes Toll on Economic Growth in Germany, China

Bojan Pancevski in Berlin and Tom Fairless in Frankfurt

Germany’s economy shrank in the second quarter and China reported a raft of weak data, sharpening fears over how far the spillover from the trade dispute between Washington and Beijing is damaging the prospects for global growth.

In Germany, gross domestic product contracted 0.1% in the three months to June, with economists and government leaders largely blaming the cool-down in Germany’s export-driven economy on the uncertainty caused by the U.S.-China trade row and the prospect of an abrupt U.K. exit from the European Union.

Chinese figures also released Wednesday added to evidence that the world’s second-largest economy is slowing further as the dispute with the U.S. drags on. The jobless rate in Chinese cities rebounded in July to its highest level since regular reporting of the data began, while data on factory production, consumption, property investment and other key readings came in lower than expected.

Economists and government planners said the dispute with the U.S. has dented confidence among China’s manufacturers, despite a surprise jump in exports in July. Anticipation is growing that China will have to deploy additional stimulus measures to keep the economy growing by the 6-6.5% target set by China’s leaders.
Wed Aug 14 07:53:48

Singapore slashes 2019 GDP growth forecast after sharp Q2 contraction
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