The Chinese government is holding a press conference at 3 a.m. ET in Beijing to discuss “measures to restore and expand consumption.” It will be attended by top economic officials and representatives of various ministries. The official manufacturing Purchasing Managers’ Index , which measures activity level in the manufacturing sector, came in at 49.3 in July, according to data released by the National Bureau of Statistics on Monday.
Consumer spending has weakened, the housing market has slumped, and the youth unemployment rate has soared to a fresh record of 21.3%. Much like many other parts of the world this summer, extreme weather has also posed a threat to economic growth. In recent weeks parts of China have been hit by a double whammy of heat waves and torrential rain, threatening to strain power supplies and disrupt factory production as well as crop yields.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Barbie is a hit and all kinds of business are hopping on the bandwagon | CNN BusinessFor marketers, Barbie has turned into a massive opportunity: A rosy, fizzy way to get new customers and stay culturally relevant. That’s always a good opportunity, but especially now, when even seemingly benign marketing campaigns can be controversial.
Source: cnni - 🏆 326. / 59 Read more »
Bank failure: Kansas Heartland Tri-State Bank closed by FDIC | CNN BusinessHeartland Tri-State Bank of Elkhart, Kansas, failed on Friday, with the Federal Deposit Insurance Corporation taking control.
Source: CNN - 🏆 4. / 95 Read more »
You could win free sandwiches for life if you change your name to 'Subway' | CNN BusinessIf you love sandwiches and aren’t all that keen on your name, Subway has an offer for you.
Source: cnni - 🏆 326. / 59 Read more »
'Barbenheimer' is stimulating the economy | CNN Business“Barbie” and “Oppenheimer” have been such blockbuster movies that their impact appears to be showing up in economic statistics.
Source: CNN - 🏆 4. / 95 Read more »
'Barbenheimer' had incredible box office momentum in its first week | CNN BusinessIt was an explosive week for “Barbenheimer,” with the atomic bomb and the atomic blond working hand in plastic hand to deliver box office dynamite. In their first week in domestic theaters, “Barbie” and “Oppenheimer” grossed more than $368 million combined.
Source: cnni - 🏆 326. / 59 Read more »