3 months ago • 1:22 min
China’s economy expanded 3.9% in the third quarter, compared to a year ago – slightly better than economists had expected but still well below the country’s official 5.5% target. Under the surface, the data painted a mixed picture of the Chinese economy: industrial production was robust, but retail sales, the housing sector, and export growth continued to disappoint. Unemployment has also ticked higher.
While you should always approach Chinese economic numbers with a pinch of skepticism, Monday’s report does highlight some of the big challenges facing the world’s second-largest economy: it’s grappling with a sharp downturn in its property sector, and still reeling from strict covid measures that have paralyzed entire sectors of its economy. What’s more, the decision to staff the upper rea
The quarter-point move is the eighth – and smallest – in a year as the central bank does battle with inflation.
Here’s what that suggests about the rest of 2023.
With the VIX so low, you might want to take a cautious approach.