China’s youth unemployment > 21% now.
Is that bad?t.co/Rw4qmSZUu0
— Michael Kao (@UrbanKaoboy) July 17, 2023
China reports second-quarter GDP miss, another record high in youth unemployment. How will the market react to this.
The 6.3% GDP print for the second quarter marked a 0.8% pace of growth from the first quarter, slower than the 2.2% quarter-on-quarter pace recorded in the first three months of the year.
National Bureau of Statistics spokesperson Fu Linghui noted China faces a complex geopolitical and economic international environment.
He also said China can still achieve its full-year growth target. Beijing in March set a goal of around 5% growth for 2023.
Decline in Chinese 1-year government bond systematically precedes a decline in US manufacturing PMI, as observed in:
– 2014
– 2018
– 2021 pic.twitter.com/7DMvMHAzxC— Game of Trades (@GameofTrades_) July 17, 2023