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☆ China's GDP rose 5.3% in the first quarter, but it doesn't mean the economic pain is over
▼ + stars: | 2024-04-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

China's economy grew 5.3% in the first quarter of 2024, surpassing analyst expectations. China's property market struggles persist, with 1Q new home sales falling nearly 31% from a year ago. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: —, Sheng Laiyun Organizations: Service, National Bureau, Statistics —, Bloomberg, NBS, Business Locations: China, Beijing

☆ A popular YouTuber's negative video of Humane's AI Pin raises questions about critical reviews in the age of innovation
▼ + stars: | 2024-04-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at a critical tech review that caused a bit of a stir on social media . AdvertisementIn a 25-minute video , Brownlee details all the issues he encountered using the AI device. Earlier this year, a negative video of Fisker's Ocean SUV by Brownlee also made waves on social media . Mario Tama/Getty Images; Chelsea Jia Feng/BICritical reviews in the age of innovation raise some interesting questions. Last week's drop among tech stocks shouldn't scare away investors , according to Wedbush.

Persons: —, Michael Pollan, Roy Rochlin, Marques Brownlee, Brownlee, X, Mario Tama, Chelsea Jia Feng, It's, Insider's Peter Kafka, Peter, Katie Notopolous, Goldman, David Solomon, Kevin Winter, Eric Newcomer, Rebecca Zisser, Caitlin Clark, Morgan Stanley, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, YouTube, Apple, Apple Vision, Humane, America, JPMorgan, National Bureau, Statistics, Amazon Prime, Street Journal, Justice Department, Ticketmaster, United Airlines, Bank of America, The Locations: San Francisco, New York, Tokyo, London, Dublin

☆ China’s Economy, Propelled by Its Factories, Grew at Start of Year
▼ + stars: | 2024-04-15 | by ( Keith Bradsher | Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

The Chinese economy grew strongly in the first three months of the year, new data shows, as China built more factories and exported huge amounts of goods to counter a severe real estate crisis and sluggish spending at home. To stimulate growth, China, the world’s second-largest economy, turned to a familiar tactic: investing heavily in its manufacturing sector, including a binge of new factories that have helped to propel the sale around the world of solar panels, electric cars and other products. But China’s bet on exports has worried many foreign countries and companies, which fear that rising shipments of Chinese goods that are flooding economies elsewhere may undermine their own manufacturing industries and lead to layoffs. On Tuesday, China’s National Bureau of Statistics said the economy grew 1.6 percent in the first quarter over the previous three months. When projected out for the entire year, the first-quarter data indicates that China’s economy was growing at an annual rate of about 6.6 percent.

Organizations: China’s National Bureau of Statistics Locations: China

☆ China’s Q1 GDP grows 5.3% partly thanks to strong manufacturing
▼ + stars: | 2024-04-15 | by ( Laura He | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —China’s economy grew stronger than expected at the start of this year, partly thanks to robust factory activity. Gross domestic product grew by 5.3% in the first quarter from a year ago, according to the National Bureau of Statistics on Tuesday. Last month, an official survey showed China’s manufacturing purchasing manager’s index (PMI) expanded for the first time in six months. The Caixin/S&P manufacturing PMI also hit its strongest reading in more than a year, as overseas demand picked up. The authorities have cut interest rates this year to boost bank lending and speed up central government spending to support infrastructure investment.

Organizations: Hong Kong CNN, Gross, National Bureau, Statistics, PMI Locations: Hong Kong, China

☆ Americans are savings less these days. Here’s why and what that means
▼ + stars: | 2024-04-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —Americans haven’t been stashing money into their savings accounts like they used to, according to government statistics. Put together, this may have resulted in “a structurally lower saving rate,” according to the report. What does the lower saving rate of nowadays say about the US consumer? Households are continuing to spend at these elevated rates and one reason is because of the lower saving rate. You’re just not seeing a reversal back to pre-Covid levels, which isn’t shocking when you look back historically to what has happened to the saving rate.

Persons: haven’t, “, Wells, Bell, Shannon Seery Grein, There’s, they’ve, we’ve, Matt Egan, ” Paul Knopp, Read, Goldman Sachs, Charles Schwab, Lorie Logan, Mary Daly, Johnson, Morgan Stanley, Jerome Powell, Loretta Mester, John Williams, Raphael Bostic, Austan Goolsbee Organizations: Washington CNN, Wells, KPMG, CNN, Gallup, T Bank, US Commerce Department, National Association of Home Builders, China’s National Bureau of Statistics, Johnson, Bank of America, PNC, The Bank of New York Mellon, Northern Trust, United Airlines, Federal Reserve, Abbott Laboratories, Discover, Citizens, Cleveland Fed, Taiwan Semiconductor Manufacturing, Netflix, Alaska Air, National Association of Realtors, Fed, US Labor Department, Procter & Gamble, American Express . Chicago Fed Locations: Wells Fargo, United States, Europe, UnitedHealth, Blackstone

☆ India's market cap can 'easily' jump ten-fold in the next two decades, economist says
▼ + stars: | 2024-04-09 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

After overtaking Hong Kong's stock market in December, India currently has the fourth largest in the world, and is now valued at over $4 trillion. India's market capitalization can easily grow to $40 trillion in the next 20 years, driven by stronger investor confidence and robust economic growth, analysts said. After overtaking Hong Kong in December, the country's market is now ranked the fourth largest in the world, valued at over $4.6 trillion. "India's GDP growth has led to companies increasing their earnings and that is resulting in the stock market performance," said Atul Singh, CEO and managing director of wealth management firm LGT Wealth India. The country's financial year starts on April 1 and ends on March 31.

Persons: Sujan Hajra, Anand Rathi, Manish Chokhani, Atul Singh Organizations: Hong, Enam Holdings, BSE, LGT Wealth, India's Ministry, Statistics Locations: India, Hong Kong

☆ Biden’s manufacturing industry is expanding, but that could be bad for inflation
▼ + stars: | 2024-04-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

But a resurgence in the industry could complicate the Federal Reserve’s ongoing inflation fight, either delaying the first interest rate cut or resulting in fewer cuts this year, some economists say. Interest rates have been at a two-decade high since July, after the Fed raised rates aggressively over the prior year and a half. The economy picking up further strength would spook Wall Street because of what it means for interest rates — and some manufacturers say they’re optimistic about the future. The Bank of Canada announces its latest interest rate decision. China’s National Bureau of Statistics releases March inflation data.

Persons: Joe Biden, ”, Tom Barkin, “, Mary Daly, ” Daly, Jerome Powell, Neel Kashkari, ” Kashkari, ” Richard de Chazal, Blair, they’re “, Amazon’s, It’s, Ramishah Maruf, Amazon, haven’t, Read Organizations: Washington CNN, Institute for Supply Management, Congress, Fed, ” Richmond Fed, ” San Francisco Fed, Minneapolis, Dow, Blair Equity Research, Amazon, Fresh, Delta Air Lines, US Labor Department, Index, Bank of Canada, Federal Reserve, National Bureau of Statistics, Constellation Brands, European Central Bank, JPMorgan Chase, Citigroup, State, National Statistics, The University of Michigan Locations: Richmond , Virginia, ” San, Las Vegas, India, Wells Fargo, Progressive, BlackRock

☆ Asia markets climb as China factory activity assessed; Japan business optimism falls slightly
▼ + stars: | 2024-04-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets climbed Monday as investors assessed China's business activity for February and await economic data out of Japan. China's National Bureau of Statistics data showed that manufacturing activity expanded in March, with the purchasing managers index registering a reading of 50.8, compared to Feburary's reading of 49.1. Separately, Japan's first-quarter Tankan survey showed that business optimism among large manufacturers fell, with the gauge at +11 compared with +12 in the last survey. However, optimism among non-manufacturers rose, with the Tankan gauge at +34 compared with +30 in the fourth quarter and beating Reuters expectations of +33. The survey gauges business sentiment, which the Bank of Japan monitors when formulating monetary policy.

Persons: Japan's Organizations: China's National Bureau, Reuters, Bank of Japan Locations: Asia, Pacific, Japan

☆ Caixin survey shows China's March factory activity at its most robust in 13 months
▼ + stars: | 2024-04-01 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

China's factory activity in March expanded by its strongest pace in more than a year, a private survey showed on Monday, in signs of stabilizing growth in the world's second-largest economy. The Caixin/S&P Global China manufacturing purchasing managers' index was 51.1 in March — its strongest since February 2023 — after coming in at 50.9 in February. Economists had expected the reading to hit 51, according to a Reuters poll. This reading corroborates another official survey of manufacturing activity that surpassed market expectations and came at its strongest in 11 months. The official survey for non-manufacturing activity in China recorded its most robust reading since June, adding to encouraging recent export and retail sales data.

Persons: Wang Zhe Organizations: P Global, Caixin Insight, China's National Bureau of Statistics Locations: P Global China, China

The official purchasing managers index, or PMI, rose from 49.1 in February to 50.8 in March. The monthly manufacturing PMI has mostly been under 50 over the past 12 months: Other than this month, factory activities only recorded an expansion in September. Zhao said the survey also showed some problems for companies remained, including increasing competition in industries and a lack of market demand. And it said 10.4 billion yuan ($1.4 billion) would go to upgrading industries and modernizing manufacturing. According to the survey released Sunday, the non-manufacturing PMI rose to 53 from 51.4 in February.

Persons: Zhao Qinghe, Zhao Organizations: BEIJING, —, PMI, National Bureau, Statistics, National People’s Congress, Communist Locations: China

☆ A glut of cheap Chinese goods is flooding the world and stoking trade tensions
▼ + stars: | 2024-03-28 | by ( Hanna Ziady | Laura He | ) edition.cnn.com time to read: +8 min

The oversupply of Chinese goods in key industries is stoking tensions between the world’s biggest manufacturer and its major trading partners, including the United States and the European Union. From clothes to carsChina’s exports of low-priced goods got a boost after it joined the World Trade Organization (WTO) in 2001. “What China exports is advanced production capacity that meets the needs of foreign customers,” Xinhua News Agency wrote. US President Joe Biden recently pledged to investigate whether imports of Chinese vehicles pose a national security threat. “But perhaps more importantly, persistent oversupply and low prices of Chinese goods will add to geopolitical tensions and keep the threat of tariffs and counter-tariffs alive,” she wrote in a recent note.

Persons: Hong Kong CNN —, ” Jens Eskelund, Xi Jinping, Huang Jingwen, ” Eskelund, Brad W, ” Markus W, Voigt, China’s BYD, Warren Buffett, Setser, Li Qiang, “, ”, Joe Biden, Jennifer McKeown, Shawn Deng Organizations: Hong Kong CNN, European Union, European Union Chamber of Commerce, Zero, of, People, China’s National Bureau of Statistics, Council, Foreign Relations, World Trade Organization, Aream Group, Tesla, Getty, China Development Forum, Xinhua, Agency, ., EV, European Commission, WTO, Capital Economics Locations: Hong Kong, United States, China, Europe, Beijing, Xinhua, China's Shandong, . Washington, Brussels

☆ Goldman Sachs issued these 12 talking points for managers amid criticisms that it's bleeding women leaders. See the full memo here.
▼ + stars: | 2024-03-20 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

Horwitz's March 13 memo was sent to all partners, managing directors, and vice presidents in response to a recent Wall Street Journal story. Women exits at GoldmanThe story comes amid a recent spate of departures of high-profile female executives at Goldman. Other women partners who have left include Katie Koch, a former top executive in asset management; Heather Miner, ex-global head of investor relations; and Jennifer Davis, a former head of retail investment banking. We are very fortunate to have extraordinary female partners that continue to increase in numbers. Our longer term success depends significantly on developing female partners in senior roles."

Persons: Goldman Sachs, Russell Horwitz, hasn't, Horwitz, David Solomon's, Horwitz —, Goldman, Marc Nachmann, Stephanie Cohen, BI's Bianca Chan, Beth Hammack, Cohen, Hammack, Alison, —, Solomon, Katie Koch, Heather Miner, Jennifer Davis, Horowitz, Russell W, David, we've Organizations: Business, Horwitz's, Goldman, Firm, Women, Media Relations

☆ China kicks off the year on strong note as retail, industrial data tops expectations
▼ + stars: | 2024-03-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Retail sales rose 5.5%, better than the 5.2% increase forecast in a Reuters poll, while industrial production climbed 7%, compared with estimates of 5% growth. Investment into real estate fell by 9% in the first two months of the year from a year ago. National Bureau of Statistics Spokesperson Liu Aihua said that real estate remains in a period of "adjustment," according to a CNBC translation of his statement in Mandarin. New loans in February missed expectations and fell from the prior month, "even after adjusting for seasonality," Goldman Sachs analysts said in a report Friday. Chinese authorities did not reveal significant new support for the massive real estate sector during an annual parliamentary meeting that ended last week.

Persons: Liu Aihua, Liu, Ting Lu, Goldman Sachs, Pan Gongsheng, Goldman Organizations: Pudong New, Investment, National Bureau of, CNBC, China, People's Bank of China, Reuters Locations: Dongyu, Qiantan, Pudong, Pudong New Area, Shanghai, China, BEIJING, Real, Beijing

☆ China economy: All-important property market shows no sign of rebound in new year
▼ + stars: | 2024-03-18 | by ( Laura He | ) edition.cnn.com time to read: +4 min

New property sales reached a total of 1.06 trillion yuan ($147 billion) in the first two months of this year, according to data released by the National Bureau of Statistics (NBS) on Monday. The drop also marks a much faster pace of decline from the year-ago period, when new property sales dipped just 0.1%. Property investment fell 9% in the January-to-February period, which was faster than the 5.7% decrease registered during the same period last year. “The correction in property construction is still in its early stages,” Capital Economics analysts said in a research note on Monday. The growth in factory output might be driven by strong exports demand.

Persons: Hong Kong CNN —, “, ”, Louise Loo, ” Loo, Zhiwei Zhang Organizations: Hong Kong CNN, National Bureau of Statistics, Capital, Catering, “, Oxford Economics Locations: China, Hong Kong

☆ A controversial study says intermittent fasting may shorten your lifespan. It shows how little we really know about the long-term effects.
▼ + stars: | 2024-03-18 | by ( ) www.businessinsider.com time to read: +7 min

A new study links intermittent fasting to a higher risk of early death instead of longevity. While there's not yet enough evidence to say intermittent fasting is risky, the findings suggest we may have a lot more to learn about whether it's good for our health in the long run. However, some rigorous studies on intermittent fasting have found mixed results: some suggest it's no better for you than other diets, and isn't worth the side effects like hunger. people who follow the 16:8 diet — would have a lower risk of dying during the study, and better heart health. Advertisement"Overall, this study suggests that time-restricted eating may have short-term benefits but long-term adverse effects," Gardner said in a press release.

Persons: —, there's, Victor Wenze Zhong, Krista Varady, Varady, David Spiegelhalter, Christopher D, Gardner, Zhong Organizations: Service, Shanghai Jiao Tong University School of Medicine, American Heart Association, University of Illinois Chicago, University of Cambridge Locations: Shanghai, China, Chicago, Stanford

☆ Three Is Best: How China’s Family Planning Propaganda Has Changed
▼ + stars: | 2024-03-09 | by ( Isabelle Qian | Pablo Robles | ) www.nytimes.com time to read: +7 min

One Three Is Best: How China’s Family Planning Propaganda Has ChangedFor decades, China harshly restricted the number of children couples could have, arguing that everyone would be better off with fewer mouths to feed. The government’s one-child policy was woven into the fabric of everyday life, through slogans on street banners and in popular culture and public art. Between 1980 and 2015, the year the one-child policy officially ended, the Chinese government used extensive propaganda to warn that having more babies would hinder China’s modernization. Then Now One child is best, the government aids in elder care. The pivot has prompted local officials to remove visible remnants of the one-child policy.

Persons: “, It’s, Critics, Marie Mathelin, Roger Viollet, Xilingjing Xiang Organizations: National Bureau of Statistics, China Central Television, Getty Images Locations: Wuhan, China, People’s Republic of China, Bengbu, Anhui, Shanxi Province, Xilingjing

☆ The best Oscars bets: Who is expected to win at this year's Academy Awards
▼ + stars: | 2024-03-08 | by ( Madeline Berg | ) www.businessinsider.com time to read: +9 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe stars won't be the only people with something on the line at the 96th annual Academy Awards on Sunday. With betting more accessible — and legal — than ever before, movie fans and living-room gamblers will be trying their luck. AdvertisementThat said, this year's Oscars are expected to attract more speculators than recently thanks to box office hits "Barbie" and "Oppenheimer." Still, the Academy Awards can be harder to game than sports, which have a bevy of statistics for people to pore over.

Persons: —, Jimmy Kimmel's, Margot Robbie's, Bill Speros, Oppenheimer, Speros, DraftKings, Austin Butler, Elvis, Brendan Fraser, Lily Gladstone, Gilbert Flores, Annette Bening, Sandra Hüller, Carey Mulligan, Maestro, Emma Stone, Cillian Murphy, Bradley Cooper, Colman Domingo, Rustin, Paul Giamatti, Jeffrey Wright, Christopher Nolan, Justine Triet, Martin Scorsese, Yorgos, Jonathan Glazer, Joy Randolph, Mary Lamb, Seacia, Da'Vine Joy Randolph, Emily Blunt, Danielle Brooks, Barbie, Jodie Foster, Robert Downey Jr, Sterling K, Brown, Robert De Niro, Ryan Gosling, Mark Ruffalo, Conde, Napoleon, Leonard Bernstein, Netflix's, Golda, Henry Sugar, John, Yoko, Barber, Indiana Jones, Billie Eilish, Finneas O'Connell, Diane Warren, Ken, — Mark Ronson, Andrew Wyatt, Jon Batiste, — Scott George Organizations: Service, Business, NBA, Super, American Gambling Association, Academy of Motion Picture Arts and Sciences, Netflix, Society, Music Locations: Ontario, —, United Kingdom, Italy, Japan, Spain, Germany

☆ Opinion: Trump’s pernicious superpower
▼ + stars: | 2024-03-07 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +8 min

She is a weekly opinion contributor to CNN, a contributing columnist to The Washington Post and a columnist for World Politics Review. His dark vision of what America is today, so divorced from reality, is aimed at frightening voters into supporting him. Frida GhitisThat is Trump’s pernicious superpower. But Trump’s speeches weave a fantasy that turns dark into light, and radiance into shadows. It’s a challenge for Biden, to overcome Trump’s practiced tactics – the Washington Post clocked 30,573 lies and misleading claims during his presidency.

Persons: Frida Ghitis, CNN —, Donald Trump, Trump, Webster, ”, Joe Biden’s, Biden, Herbert Hoover, Jimmy Carter, Abraham Lincoln, Adolf Hitler, White, that’s, “, “ you’re, you’ve, Donald, ” Biden, Trump’s Organizations: CNN, Washington Post, Politics, Trump, Frida Ghitis CNN, Super, United Nations, NATO, Biden, Political Science Association, Abraham Lincoln 1st, Carnage Locations: Lago, America, Merriam, guffaws, United States

☆ China sets GDP target of 'around 5%' for 2024
▼ + stars: | 2024-03-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — China set a growth target of "around 5%" for 2024, according to the "Government Work Report" released Tuesday. The targets for GDP and other economic indicators were published as part of the opening of the National People's Congress annual meeting. The work report emphasized the need to "ensure both high-quality development and greater security," preventing risks and maintaining social stability, among other tasks. The work report said that "internal drivers of development are being built up," but added the country should be "well prepared for all risks and challenges." More than 2,800 delegates attended the opening of the National People's Congress annual meeting in Beijing on Tuesday.

Persons: Li Qiang, Louise Loo Organizations: Economic, National People's, National Bureau of Statistics, Communist Party of China's, National People's Congress, IMF, Oxford Economics Locations: Davos, Switzerland, BEIJING, China, Beijing

☆ A bigger pool of American workers could continue to slow inflation even further
▼ + stars: | 2024-03-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Now, as the Federal Reserve faces the final stretch of its historic inflation battle, a bigger pool of workers could slow inflation even further. That then begs the question: How much more can better labor supply slow inflation? The US Labor Department releases January figures on job openings, quits, hires and layoffs. The US Labor Department reports the number of new applications for jobless benefits in the week ended March 2. China’s National Bureau of Statistics releases February inflation data.

Persons: Mary Daly, “, ” Sarah House, Michael Gapen, That’s, Jack Bantock, ’, ”, Richard Felton, Thomas, ’ ”, Patrick Harker, Ross, Nordstrom, Michael Barr, Campbell Soup, Foot, Jerome Powell, Loretta Mester Organizations: DC CNN, Federal Reserve, San Francisco Fed, National Association for Business Economics, Labor, CNN, Bank of America, White House’s Council, Economic Advisers, English Premier League, Chelsea, Burnley, Philadelphia Fed, Target, P Global, Institute for Supply Management, US Commerce Department, Abercrombie, Fitch, Financial Services, The Bank of Canada, US Labor Department, Broadcom, Costco, Eagle Outfitters, Potbelly, Banking, Housing, Urban Affairs, European Central Bank, Cleveland Fed, National Bureau of Statistics Locations: Washington, San, Wells, United States, London, JD.com, Kroger, Burlington, DocuSign

☆ Turns out that giving up the grind and retiring to Italy is as good as it sounds
▼ + stars: | 2024-03-02 | by ( Joi-Marie Mckenzie | Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

If you've ever dreamed of giving up the grind and retiring in Italy, apparently it's as good as it sounds. On the agenda today:This story is available exclusively to Business Insider subscribers. In fact, this is a topic my colleagues at Business Insider cover extensively all year long. But understanding and improving your VO2 Max, a measure of how much oxygen you use during exercise, could be the key to unlocking a longer life. AdvertisementA higher VO2 max can give you a better chance at a longer life.

Persons: —, we've, Alyssa Powell, They're, Christopher Malcolm, Getty, Klaus Vedfelt, Abanti Chowdhury, Max, Marc Piasecki, Tyler Le, Stellan, Skarsgård, Baron Vladimir Harkonnen, Jia Feng, Devin Shaffer, Neiman Marcus, Le, Napoleon, Ridley, Joaquin Phoenix, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan Organizations: Service, Business, Getty, Universal, Miramax, Warner Bros, BI, Netflix, Apple TV, Apple, Hulu, Paramount Locations: Italy, Texas, Tuscany, America, United States, New York

☆ More Americans are moving to Tuscany, where their money goes further, the pace is slower, and the wine flows freely
▼ + stars: | 2024-03-02 | by ( Jordan Pandy | Reed Alexander | ) www.businessinsider.com time to read: +14 min

More Americans are moving to Tuscany, a part of Italy known for medieval walled cities and wine. Some locals say it's keeping their economy alive, but others are starting to grumble. The influx of Americans, locals said, can be at once a booster of fortunes and an irritating imposition. "A lot of locals say that a place like Montepulciano cannot handle all those tourists because it's a small city," said Tudor, the jeweler. Americans, Ercolani said, "spend money and they appreciate the quality of the food and the wine that we have."

Persons: —, Leanne Davis, Davis, Jon Chewning, Chewning, It's, Georgette Jupe, Knight Frank, Florence ., they're, we've, Frances Mayer's, it's, Michele Capecchi, Capecchi, Erin Lewis, Lewis, Danilo Romolini, Luca Tudor, AJ Tuscany, Tudor, who's, Sam D'Avanzo, dell'Anfiteatro, Frank Bienewald, they've, lockdowns, Jupe, Bendetta, Cantina Ercolani, Ercolani Organizations: Service, Business, Associated Press, US Department of State, Italian National Institute of Statistics, away.com, Christie's, Estate, Locals, International School of Florence Locations: Tuscany, Italy, California, Romano, Sacramento, Montepulciano, Florence, Boccheggiano, Lucca, Siena, American, Europe, Rome, Venice, Chiusi, Austin , Texas, Houston , Texas, Italian, Switzerland, Albanian

☆ China PMI: Factories send mixed signals about the economy, pressing Beijing to do more
▼ + stars: | 2024-03-01 | by ( Laura He | ) edition.cnn.com time to read: +4 min

But the Caixin manufacturing PMI — which focuses on smaller, private companies — rose to 50.9 in February, up from 50.8 in January, according to S&P Global, which compiled the survey. The divergence in the output and new order sub-indexes is likely related to differences in geographic and sector coverage, as the Caixin PMI covers more southern regions, they said. “Overall, the manufacturing sector continued to improve in February,” said Wang Zhe, senior economist at Caixin Insight Group, in a statement that accompanied the Caixin PMI data. “Looking ahead, the focus should be on the effectiveness of the measures [announced previously by Beijing to boost growth],” Wang said. “Fiscal policy will lead the way,” HSBC analysts said Friday.

Persons: ” Goldman Sachs, ”, Wang Zhe, ” Wang, Xi Jinping, Lintao Zhang, “ Organizations: Hong Kong CNN, National Bureau of Statistics, P, National People’s Congress, PMI, Caixin Insight, “, of People, Communist Party’s Politburo, NPC, Xinhua, HSBC Locations: China, Hong Kong, Beijing, Southern China, Guangdong, Zheijang, ” China

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ Raising a child in China is 50% less affordable than in the US, Beijing think-tank says
▼ + stars: | 2024-02-22 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

AdvertisementThe think-tank said it calculated child-raising costs in China using 2023 data from the National Bureau of Statistics. AdvertisementIn total, raising a child until they are 18 costs Chinese families an average of 538,312 yuan, or about $73,000, Yuwa said. Middle-income families in the US are projected to spend $233,610 raising a child until they are 18, per the USDA. AdvertisementNotably, the average cost of raising a child in China fell slightly compared to Yuwa's 2022 report on the same topic. The think-tank said data from 2019 showed that the average cost was $76,000, or about seven times the country's GDP per capita at the time.

Persons: —, Liang Jianzhang, Huang Wenzheng, Yafu, Yuwa's, Yuwa Organizations: Service, Business, National Bureau of Statistics, Department of, Ministry of Health and Welfare Locations: China, Japan, Beijing, South Korea, Shanghai

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