China's economy was losing steam even ahead of Trump's new tariffs [Business News Network (BNN) Energy & Resources (Canada)]
Nomura Holdings Inc ADR American Depositary Shares (NMR)
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Source: Business News Network
China's economy was losing steam even ahead of Trump's new tariffs China’s economy lost steam in April, underscoring the fragility of the world’s second-largest economy as it girds for an intensified face-off with the U.S. over trade. Industrial output, retail sales and investment all slowed more than economists forecast. The state sector continued to boost investment while private business eased off, and growth in manufacturing investment came in at the slowest pace in data dating back to 2004. Faltering credit and consumption at home coupled with a weaker global economy means China is running out of steady growth engines right when it needs them. The soggy data spurred expectations the government will need to boost stimulus to cushion the blow from the escalating trade war, sending Asian stocks mostly higher. The yuan was little changed. U.S. President Donald Trump rolled out 25 per cent tariffs last week, leaving Chinese producers reeling. There’s a chance such levies will be widen
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