Just how much damage has the Sino-US trade war done to the American economy? We will find out more when the world’s largest economy reports the second estimate of its economic growth rate for the second quarter. The first reading showed that the American growth rate slowed appreciably from an annualised rate of 3.1% in the previous quarter to 2.1%.
Elsewhere, India is expected to say that its economy grew 5.6% in the second quarter. This could represent the fourth succesive quarter when its growth rate has slowed since hitting 8% in the third quarter of 2018. It would also be the slowest growth rate since the first quarter of 2014.
China will provide another look at the health of its economy through some purchasing managers’ indices. It could show that both the manufacturing sector and the non-manufacturing sectors continue to shrink.
A flash reading of inflation in the Eurozone could show that consumer prices rose slightly in August. The headline inflation rate could come in at 1.2%, while the core number could be 1%.
Hong Kong’s retail sales will be closely watched for signs of the impact from the regular street protests. In June, retail sales fell 7.6%. They are expected to show another decline in July, which could be as much as 9%.
And finally, Singapore will report bank lending for July. Investors will be keen to see if Singapore’s three local lenders, namely, DBS Group (SGX: D05), United Overseas Bank (SGX: U11) and Oversea-Chinese Banking Corporation (SGX: O39) will be able to make up for any decline in their net-interest margins with an uptick in lending volume.
The Motley Fool’s purpose is to help the world invest, better. Click here now for your FREE subscription to Take Stock — Singapore, The Motley Fool’s free investing newsletter. Written by David Kuo, Take Stock — Singapore tells you exactly what’s happening in today’s markets, and shows how you can GROW your wealth in the years ahead.
Like us on Facebook to keep up to date with our latest news and articles. The Motley Fool’s purpose is to help the world invest, better.
The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo owns shares in DBS, UOB and OCBC.