July 25, 2013 | Morning Briefing |
China’s government has ordered 1,400 companies in 19 industries to cut excess production capacity this year. Excess capacity must be idled by September and eliminated by the end of the year the Ministry of Industry and Information Technology said in a statement on its website on July 24. But we’ve been down this road before.
July 25, 2013 | Daily JAM, Stock Alerts |
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July 24, 2013 | Daily JAM, Videos |
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July 24, 2013 | Uncategorized |
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July 24, 2013 | Daily JAM, Morning Briefing |
The preliminary survey of purchasing managers conducted by Markit Economics and HSBC Holdings showed that China’s manufacturing sector fell to 47.7 on this index in July. Anything below 50 on this index indicates contraction. The reading is the lowest in 11 months (The official government purchasing managers index, which includes a wider sample of manufacturing companies, is due on August 1.)
July 23, 2013 | Uncategorized |
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July 23, 2013 | Daily JAM, Morning Briefing |
China will not accept economic growth below 7%, Premier Li Keqiang told a recent meeting of economists, according to a story on July 21 by the official Xinhua News Agency. 7% is the bottom line, the story reported Li saying, and the nation can’t allow growth below that.
July 22, 2013 | Uncategorized |
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July 22, 2013 | Daily JAM |
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July 22, 2013 | Daily JAM, Morning Briefing |
Industrial production in February fell by a year over year 2.8% in France. Which actually looks good in comparison to a 3.8% drop in Italy and a 6.5% plunge in Spain. Meanwhile the bailout plan for Cyprus projects that the country will return to growth in 2015.
July 20, 2013 | Uncategorized |
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July 19, 2013 | Morning Briefing |
The Nikkei 225 index fell 1.48% overnight in Tokyo on profit taking before Sunday’s election for the upper house of Japan’s parliament. Prime Minister Shinzo Abe’s coalition is projected to cruise to an easy victory giving the government control of both houses of parliament and a clear path for pushing forward Abe’s economic program.
