09/08/17: Data released today by China’s National Bureau of Statistics (“NBS”) indicate that the country’s rate of increase in its exports continued to trend lower during August, rising by only 5.5%, as compared to the same month a year ago. That’s the slowest year-over-year rate of increase in China’s exports since February of this year.
The continuing slowing in China’s exports bode poorly for the near-term direction of China’s economy, as the country’s exports account for approximately 18% of China’s total output of goods and services – of the country’s gross domestic, product (“GDP”).
In regard to economic developments in other major regions of the world, the United Kingdom’s Office of National Statistics reported today that industrial production at Great Britain’s factories, mines and utilities rose for the second consecutive month during July, the latest month for which data are available, indicating that the country’s economy will expand at a faster pace during the third quarter of this year than during the prior quarter.
Japan’s Eco Watchers Index Rises
Separately, Japan’s Cabinet Office reported that its Eco Watchers Index, which is based on responses to questions posed every month to approximately 2,000 service-sector employees and small business owners regarding their assessment of Japan’s economy, rose during August, indicating that Japan’s citizens expect economic conditions there to continue to improve over the next couple of months.