6 charts comparing US, China economies and markets in 2019
trade war entered its second year in 2019, increasingly weighing on both economies amid worsening business sentiment globally.
Here are six charts that look at how the world's top two economies and their financial markets have performed in the year.Growth in gross domestic product — the broadest measure of an economy — slowed down in both the U.S. and China last year. Several economists predicted that growth rates in both countries could moderate even more in 2020, due to their continued trade friction and respective domestic challenges. That would add pressure to an already fragile global economy.Overall exports and imports fell in both countries in the first ten months of 2019, compared to a year ago. That came amid slower trading activity worldwide — a trend some experts said started even before the U.S.-China trade war.
China's official manufacturing Purchasing Managers' Index — a widely watched indicator of the sector's health — has stayed in contraction territory for most of the year. That means the index came in below the 50-point level. In the U.S., the manufacturing PMI compiled by the Institute for Supply Management showed factory activity contracting since August.Consumer spending in the U.S.
may cut consumer spending in other areas, said Francis Tan, investment strategist at Singapore's UOB Private Bank.
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