China is experiencing a rare episode of sliding prices. Japans economy experienced this back in the 1990s and early 2000s. Now, this comes hot the heels of disappointing china trade data on tuesday, which showed that exports sank at their fastest rate since the pandemic, dropping by more 14 in the year tojuly, with imports also falling by more than 12 in the same period. Joining me now is duncan wrigley, Chief China Economist at pantheon macroeconomics. Thank you very much for being with us today. The Rest Of The World looking on in amazement. Considering the inflationary pressures the rest of us are dealing with. What do you read Between The Lines in this latest data . Between the lines in this latest data . Latest data . Ok, i mean, there are some latest data . Ok, i mean, there are some shortterm latest data . Ok, i mean, there are some shortterm factors i are some short term factors that push down the data for this month, there has been a surge of seasonal vegetables, the big pictu
Wall street was being red on tuesday, bank stocks leading the way. Shares in Goldman Sachs fell 2 . The catalyst was moodys downgrading the Credit Rating on several small and me us banks, including mmt and pinnacle financial. The red flag is raised by the Ratings Agency including a potential recession as well as problem so to the commercial real estate set up. As one analyst put it, any doubts about regional banking is bad for market sentiment. That wasnt helped by data from new york federal reserve, which showed that for the first time americans owed more than 1 trillion on their credit cards. Traders have also been focused on corporate results, which so far have been better than expected. That was true for lyft was reported results after the us market close, ebbo s small arrival is forecasting higher revenue in the Third Quarter based in part on a post pandemic rebound in road sharing. Rivi and posted a narrower loss than expected and raised its Production Guidance for the full year.
2 , the catalyst was moodys downgrading the Credit Rating on several small and medium sized us banks, Including Mmt and pinnacle financial. The red flags raised the Ratings Agency included a potential recession, as well as problem side to the commercial real estate sector. As one analyst put it, any doubts about regional banking is bad for market sentiment. That wasnt helped by data from new york federal reserve, which showed for the first time americans owed more than 1 trillion on their credit cards. Traders have also been focused on corporate results, which so far have been better than expected. That was true for lyft, which reported results after the us market close, ebbo s small arrival is focusing higher revenue in the Third Quarter based in part by a Postman Damik rebound in ray jones. Meanwhile, an electric vehicle maker posted a narrower loss than expected and raised its Production Guidance for the full year. Elsewhere on wall street this morning, nine companies, including ban
Thats down from 3. 9 in the three months to november. It marked the lowest level seen since the November 2022 to january 2023 period. Wage growth slowed again in the britishjobs market. But and this is key it is still outpacing price rises, according to the office for national statistics. Lets hear now from michael stull, director at manpowergroup uk. Michael, what are you expecting to see a little later on . Im always very excited for when the numbers come out. Im expecting a couple of things, one is i do think unemployment will take up a little bit, as you mentioned wage growth is going to slow. We will see vacancies down and underlying all of that in the Labour Market we have two bosses, a cold and hot going on. On the cold and hot going on. On the cold side we have sent a dropping, weve seen hiring slowing down and we are not out of the woods. We are blue business and consumer confidence. Manufacturing pmi is a very low, big into caters. 0n the hot side we see a lot of hiring going