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China’s manufacturing may contract for its fifth month straight
China’s factory activity is expected to have contracted for a fifth straight month in September, further adding to the country’s economic woes as the U.S.-China trade wars escalate.
The official Purchasing Managers’ Index (PMI) for September is expected to remain flat at 49.5 from August according to the median forecast of several economists.
The current economic weakness is primarily driven by manufacturing sector, according to a third-quarter of thousands of Chinese firms published by the China Beige Book International (CBB) this week.
The continued slowdown in manufacturing activity has fuelled the expectations that the authorities would have to roll out more stimulus measure to avert a sharper descent.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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