Back to numbers, briefly

WSJ:

data also pointed to economic headwinds. Retail sales grew, but not as sharply as analysts had expected. And unemployment ticked up to 5.1% last month, from 4.8% in June, the National Bureau of Statistics said. Spending on fixed-asset investments in China’s nonrural areas grew 5.5% in the January-July period from a year earlier, the Bureau of Statistics said. The figure matched a record low in 1999, according to data tracker Wind Information, and is down significantly from the 8.3% growth recorded for the first seven months of 2017.

The value of homes sold for the January-July period rose 16.2% from a year earlier, official data showed Tuesday. That compared with a 14.8% gain for the first half of the year. Property investment, including commercial and residential real estate, for the first seven months of the year rose 10.2% from the previous year. That compared with a 9.7% increase for the January-June period. Most of the growth was in so-called second- and third-tier cities that have looser property controls. Major cities such as Beijing and Shanghai imposed homebuying restrictions, such as raising down-payment ratios and capping the number of home purchases, to prevent the market from overheating.

The China Banking and Insurance Regulatory Commission on Saturday reported that new loans by Chinese banks totaled 1.45 trillion yuan ($210.40 billion) in July, up 75%, or 623.7 billion yuan, from the same period last year, according to preliminary statistics. The regulator also said new lending to infrastructure projects stood at 172.4 billion yuan in July, up 37% from June.

Mixed bag with credit expanding again. BTW, we don’t think Turkey is a big deal, but we’ll see. Some good Turkey background here.

BTW, we don’t think it’s a small thing that Giuliani has been tasked with going after Brennan. Stay tuned.

One Response to “Back to numbers, briefly”

  1. feeblemind Says:

    True, Turkey is not a big deal, but then neither was the failure of the Bank of the United States in 1930.

    But as the Dinocrat knows, the small Bank of the United States set the dominoes falling, really kicking the Great Depression into gear.

    I recall reading a piece in 2007 by Larry Kudlow, the perpetual bull, that the financial crisis in the housing market represented but 5% of the US economy and that the crisis would not spread from that sector of the economy.

    That’s why Turkey is worth keeping an eye on. It may not be a big deal unless it causes The Market to stampede.

    There’s a Black Swan out there, but when and where it will land is anyone’s guess.

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