(Bloomberg) -- China’s economy has leaned on industrial production to keep growing this year, and data in the coming week will provide clues on how strong...
-- China’s economy has leaned on industrial production to keep growing this year, and data in the coming week will provide clues on how strong that support remains.Export figures due on Wednesday may show some strengthening in July, underscoring how trade has been a rare bright spot.Shipping volume from China’s ports in the first half was 8.5% higher than 2023, with container freight rates surging by a factor of four, according to NCFI. Exports - from cars to steel to consumer goods - soared.
Later in the week, inflation figures are set to remain soft, with producer prices contracting for the 22nd straight month. Investors on Thursday will focus on weekly jobless claims data. Applications for jobless benefits in the week ended Aug. 3 are expected to have eased only slightly from an almost one-year high. The figures will provide clues into whether the labor market is at greater risk of backsliding.
Two days later, the Reserve Bank of India is seen holding its benchmark rate at 6.5% while tweaking its language to convey a neutral pause instead of a hawkish hold, as more officials fret over growth prospects. Turning to Russia, data on Friday will likely show growth slowed in the second quarter from the prior three months. The economy remains overheated, however, with accelerating inflation forcing the central bank to raise rates sharply for the first time this year.Turkish inflation on Monday may have slowed to 62% from 72% a month earlier. That would be another signal that the central bank has gotten a grip on prices and that Turkey is past the worst of its cost-of-living crisis.
The next day, Romania’s central bank may consider a further rate cut, and officials will also debate and approve a quarterly inflation report to be presented by Governor Mugur Isarescu, probably on Friday. Colombia’s central bank also posts the minutes of its July 31 meeting, at which policymakers looked past gathering upside risks to inflation and delivered a fourth straight half-point cut, to 10.75%.
Dearica Hamby dropped nine points on Saturday night to push the United States past China for a second time in a matter of hours.The man who stole a bronze Jackie Robinson statue that was cut off at the ankles and found days later smoldering in a trash can in a city park in Kansas is going to spend about 15 years in prison, although most of that time is related to a burglary that happened a few days after the January statue heist.
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