S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

China’s Inflation Drops to 29-Month Low

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

In another sign that China’s economy has slowed, inflation is at a 29-month low. The country posted a June consumer price increase of only 2.2%. Inflation was only recently a major concern in the People’s Republic, when price increase for commodities that included food in particular were rising in double digits.

The lack of inflation combined with a sharp drop in the country’s purchasing manufacturing index mean the forecasts of only 7% GDP growth in the second quarter are likely to be correct. If the present pattern persists, mostly because of export trouble due to shaken economies in Europe, gross domestic product could drop to a low not posted in the past decade.

“Inflation is dead and growth is by far the main concern in Asia,” said Tim Condon, chief Asia economist at ING Financial Markets in Singapore, according to Bloomberg. Based on his assessment, some of the region’s economies actually may be in retreat.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

China May Undermine Its Own Growth

Economists in China are becoming concerned that restrictions on bank loans could take the wind out of the sails of…
Douglas A. McIntyre |

Asia Shrugs Off The Recession

China and other large economies in Asia are not just struggling to get out of the recession. They are racing…
Douglas A. McIntyre |

Exports And The Problem With The “China Miracle”

The rate at which China’s exports are dropping has slowed and that means its economy is growing well. Exports and manufacturing…
Douglas A. McIntyre |

Big Asia Money See “Sucker Rally” In Region

Asian markets are way up since March. Investors hope that the region has dodged the bullet of a slowdown in…
Douglas A. McIntyre |

OECD: A US-Based Global Recovery?

Anyone who has watched the US economy falter would suppose that American GDP growth will be a drag on the…
Douglas A. McIntyre |

Deflation Emerges With Force

The Fed has stated that it is not worried that low interest rates and an economic recovery will cause inflation.…
Douglas A. McIntyre |

Inflation as a Proxy for Recession

The idea that low inflation is a proxy for recession may be an old one. That does not mean it is…
Japan’s GDP Growth Beats Expectations: ETFs to Play
247patrick |

Japan’s GDP Growth Beats Expectations: ETFs to Play

Japan's economy has demonstrated remarkable resilience, defying projections
Douglas A. McIntyre |

As European Central Bank Prepares Rate Increase, Fed May Have Bungled

The Fed sat still yesterday. It could not decide which was worse, inflation or the slowing economy. It tried to…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618