Comment on World shares retreat after China reports economy weakened

World shares retreat after China reports economy weakened

BANGKOK (AP) — World share prices retreated after China reported Friday that its economy grew 6.0%, its slowest pace in 26 years, in the latest quarter. Britain's FTSE 100 edged 0.1% lower to 7,177.44 as Prime Minister Boris Johnson worked to persuade lawmakers to accept a newly struck deal for the United Kingdom's departure from the European Union. The CAC 40 in Paris lost 0.2% to 5,660.66 while Germany's DAX reversed early losses, edging 0.1% higher to 12,665.69. Wall Street looked poised for a tepid start, with the future contract for the Dow Jones Industrial Average down 0.1% at 26,960.00 and that for the S&P 500 also 0.1% lower at 2,995.10. The 6.0% growth pace China reported for July-September was worse than forecast and the slowest since the country began reporting quarterly data in 1993. It ups pressures on global growth and to Chinese leaders' efforts to avert politically dangerous job losses as they fight a tariff war with President Donald Trump. Some of the latest data for September, such as investment and lending, showed improvement, but "pressure on economic activity should intensify in the coming months," Julian Evans-Pritchard of Capital Economics said in a commentary. "Cooling global demand will continue to weigh on exports, fiscal constraints mean that infrastructure spending will wane in the near-term and the recent boom in property construction looks set to unwind.Read more on NewsOK.com

 

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