BEIJING: Downward pressure on China’s economy will persist in the second half of the year as growth in infrastructure spending and exports is unlikely to pick up, a senior central bank official was quoted as saying.
Chinese companies are not optimistic about business prospects according to the central bank’s second-quarter survey, Sheng Songcheng, the director of the statistics division of the People’s Bank of China (PBOC), was quoted as saying by the National Business Daily on Saturday.
China Caixin manufacturing PMI falls to 2-year low
BEIJING--The Caixin China manufacturing purchasing managers' index, a gauge of nationwide manufacturing activity, fell to a two-year low of 47.8 in July, compared with 49.4 in June, Caixin Media Co. and research firm Markit said Monday.
A reading below 50 indicates a contraction in manufacturing activity from the previous month, whereas a reading above that level indicates expansion.
"July data signaled that the downturn in China's manufacturing sector intensified at the start of the third quarter," said Caixin in a statement. "Renewed falls in both total new work and new export orders led manufacturers to cut production at the fastest rate since November 2011."
The final reading was lower than the Caixin preliminary July PMI of 48.2 which was a 15-month low. The preliminary figure is based on 85% to 90% of the responses to its PMI survey.
"This was a decision that reflects the serious concerns about the Commonwealth's liquidity in combination with the balance of obligations to our creditors and the equally important obligations to the people of Puerto Rico," Puerto Rico's Government Development Bank president Melba Acosta Febo said in a statement.
The default is a historic moment in Puerto Rico's economic "death spiral," a term the island's governor, Alejandro Garcia Padilla, has used. The island is struggling with about $70 billion in total outstanding debt, and its economy is in recession.
To be clear, the EIA, on a weekly basis, uses a proprietary model to estimate U.S. oil production and then on a monthly basis uses actual data to revise those figures. Thus, what we were witnessing from Texas RRC data and Bakken output appears to be spot on in estimating that actual production was well below EIA estimates.
There was a shift in the ice 9,000 years ago when the ice sheet began to melt away. Surface melt drove final deglaciation. The level of CO2 that triggered the melt was much less than it is today.
It is undeniable that the FDA has a controversial relationship with the pharmaceutical industry. Not a single psychiatric drug is released into the market for administration until the FDA gives its safety a legitimate stamp of approval. But how legitimate is this stamp and are these drugs truly safe? The medical cartel formed by the matrimony between the FDA & Big Pharma must come under scrutiny and both parties must be held accountable for their inexcusable corruption.
Five Tips To Improve Memory And Boost Brain Power
Memory loss has become a problem from stress, unhealthy diets, smoking, drugs, alcohol; and memory loss is a common result of this type of lifestyle. Without having a long-term memory, we could not remember the basics of life and who we are. The prospect is frightening! Memory loss used to be considered only linked to aging but that has changed.
The problem, according to the author of the paper, Touché Howard, is that the backpack-size tool uses two sensors: one for low levels of methane emissions and one for higher levels. As methane levels rise beyond the capacity of the first sensor, the device hands off to the second, high-level sensor.
"The greatest significance of the work is that we succeeded in quantifying the relative effects of different factors contributing to wealth inequality," Berman told Phys.org. "The inequality surge is not due to a single factor.
Therefore, in order to understand it better, such a quantification is important. I also think that a very interesting finding is how important personal savings are. Though other elements may be equally important in general, the dramatic decrease in personal savings is probably the single most important ingredient contributing to the increase in wealth inequality in the past 30 years."
Learning Success:
APPLY Tips From The Best
APPLY Tips From The Best
Warren Buffett, Berkshire Hathaway – He is a deeply conservative trader during the times that everyone around him is moving from one extreme to the other to the tune of huge losses and gains. Warren Buffett is a perfect example of patience, proving that slow and steady generally wins the business race. (Although I continue to press my own desire to spur Fishbowl’s inventory software business to race!)
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An Inconvenient Truth:
An Inconvenient Truth:
What Happens When Top Economists Realize Physical Growth Constraints?
EXISTENTIAL REALITY
"Humanity's Coming of Age"
- The Last Days of Economic Growth -
