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Brent: China's weak economy & property debt implosion is weighing, but oil use holding up

Brent: China's weak economy & property debt implosion is weighing, but oil use holding up
Chinese economic data has been disappointing. Last week we had:China July Industrial production +3.7% y/y (expected 4.5%) & Retail sales +2.5% (4.8%)And the property sector is collapsing under the weight of debt, again:China's 2nd largest property development group has filed bankruptcy protection in the USJP Morgan warning on China property sector developments: "may set off a vicious cycle"And yet, analysts have argued that China's oil-consumption figures have held up. An RBC commodity strategis... Read More
Posted: Aug 21 2023, 00:51
Author Name: forexlive
Views: 111862

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