2024-08-01 19:55:08
Business
China
Economy

Global Manufacturing Struggles Amid Weak Demand: China's Factory Activity Contracts, Eurozone Sees Declines, and Hong Kong Retail Suffers

China's manufacturing activity contracted for the first time in 9 months, with declining new orders impacting investment. To stimulate consumption, China allocated 150 billion yuan from special bonds.

In Europe, the Eurozone manufacturing PMI remained below the growth mark, with Germany and France experiencing significant declines. Meanwhile, Hong Kong's retail sales fell for the fourth consecutive month despite efforts to boost the sector.

Challenges persist in global manufacturing due to geopolitical risks, supply chain disruptions, and shipping issues.

China Economy - South China Morning Post
1. August 2024 um 02:00

China’s factory activity contracts for first time in 9 months amid weak demand: Caixin PMI | South China Morning Post

Economy
Politics
China's manufacturing activity contracted in July for the first time in 9 months, with the Caixin/S&P Global manufacturing PMI falling to 49.8. New orders declined, affecting investment and intermediate goods, while consumer goods saw slight expansion. To boost consumption, China announced 150 billion yuan from 1 trillion yuan in special bonds would subsidize replacements. China's foreign trade growth faces obstacles including high geopolitical risks, supply chain disruptions, and shipping iss..
EURACTIV.com
1. August 2024 um 14:21

European, German industrial fatigue endures, cannot be blamed on ‘energy anymore’

Economy
Politics
Finance
Environment
Eurozone manufacturing PMI held steady at 45.8 in July, below 50-point growth/contraction mark; Germany and France saw steeper declines; only Greece and Spain posted 'meaningful growth' in factory activity, though momentum has slowed there as well.
Hong Kong economy - South China Morning Post
1. August 2024 um 08:54

Hong Kong retail sales fall 9.7% in June, marking fourth straight decline despite expanded travel scheme | South China Morning Post

Economy
Politics
Hong Kong retail sales fell 9.7% to HK$29.9 billion in June, 4th straight decline after 11.4% drop in May and 14.7% in April, with 6.6% decline in first half of 2023. Sector faces challenges but benefits from strong Hong Kong dollar, 3.3% GDP growth in Q2, rising employment earnings, government's efforts to promote mega-event economy and support SMEs in upgrading, help local enterprises expand into mainland e-commerce, attract visitors and local consumers to shop through events like Hong Kong..
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