All the day’s economic and financial news, including new growth figures from China and the IMF’s latest World Economic Outlook
- Latest: China challenges US tariffs at WTO
- Chinese growth slows to 6.7% in Q2 2018
- Industrial production growth slowed, but retail picked up
- Robot demand has slowed
- Beijing warns of ‘increased uncertainties’
- Coming up: IMF growth forecasts at 3pm BST
Newsflash: US retail sales grew steadily last month, indicating that America’s economy is growing steadily despite tariff worries.
Consumer chugging along: Retail sales up a solid 0.5% m/m in June (in-line with exp.) with upward revisions in prior months https://t.co/AwtoXCMkUF pic.twitter.com/rNWc4Doark
US retail sales a mixed bag in June. Headline was +0.5% after +1.3% in May. However, core sales (ex food, gasoline, building materials and autos) were flat in June, after +0.8% in May. Q2 growth was up on Q1: +7.9% annualised vs 1.8% for headline and +6.5% vs 2.1% for core. pic.twitter.com/yPFTqhFEP4
Here’s a handy chart, showing how the availability of credit in China has recently been reined in, after a long period of loose monetary policy after the financial crisis.
China ha supuesto la mayor parte de creación de crédito privado en el mundo desde 2008. Vía Citi pic.twitter.com/Gho4mMNbfN