Primary Vision
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
No Result
View All Result
Primary Vision
Home Market Trends

Market Sentiment Tracker: China’s economy – glass half full, half empty

Osama Rizvi by Osama Rizvi
July 23, 2024
in Market Trends
0
Market Sentiment Tracker: China’s economy – glass half full, half empty

U.S. and the World

The economic signals from the U.S. continue to be a mixed bag. June’s Existing Home Sales are forecasted to drop by 3.0% m/m, following May’s 0.7% decline, indicating ongoing challenges in the housing market. Oil prices remain steady, though weighed down by a predicted surplus and weak demand. Similarly, copper and iron ore prices are under pressure due to concerns about demand from China, highlighting a bleak outlook for global commodities. On the flip side, U.S. natural gas prices spiked by 6% on rising feedgas to Freeport LNG in Texas, and gold prices remain stable with U.S. economic data in focus. Soybeans are holding gains as traders consider Trump’s reelection prospects, and palm oil continues to advance, supported by rising exports. Additionally, raw sugar has hit a seven-week low, suggesting improved supply prospects and a rally in cocoa prices. These elements reflect a cautious optimism amidst broader economic uncertainties.

China

China’s economic performance presents a nuanced picture. The Q2 GDP growth slowed to 4.7%, down from Q1’s 5.3%, and retail sales missed expectations, rising only 2% versus the forecasted 3.3%. The yuan has dropped to a near two-week low of 7.2750 per dollar following recent rate cuts, and copper imports are under pressure due to poor demand and high prices. However, industrial production beat expectations in June, and the benchmark lending rates were reduced, with the one-year LPR cut to 3.35%. Steel exports saw a significant rise of 24% y/y in H1, and Chinese sovereign bond yields fell across the curve, stabilizing at lower rates. Export performance was strong, rising 8.6% y/y, and soybean imports surged by 10.7% y/y, reflecting robust agricultural demand. These indicators suggest strategic adjustments and resilience within China’s economic framework.

Eurozone

The Eurozone’s economic landscape is a blend of challenges and opportunities. On the bearish side, Germany’s industrial output declined by 2.5% m/m and 6.7% y/y, with industrial orders falling 1.6% in May. The ZEW Survey expects a drop in expectations to 41.0 from 47.5, driven by political uncertainty. Manufacturing PMIs are likely to continue showing contraction at 46.1, and France’s Services PMI is expected to remain weak at 49.8. Despite these challenges, there are positive signs: Eurozone Services PMIs are projected to expand at 53.0. Germany’s Ifo Business Climate is anticipated to improve modestly to 89.0, and France’s consumer confidence is set to edge up to 90. In the UK, the CBI Business Optimism index is expected to rise to 14 from 9, marking its best level since Q3 2021. Additionally, UK Manufacturing and Services PMIs indicate slight improvements, with Manufacturing at 51.1 and Services at 52.5.

In essence, while the global economic environment remains fraught with recessionary pressures, pockets of resilience and growth are evident, particularly in the U.S. energy sector, China’s industrial output, and Europe’s business sentiment. These factors underscore a complex, yet dynamic global economic landscape.


Previous Post

Monday Macro View: On Debt Service Ratios, falling oil exports and U.S. economy

Next Post

Nabors: Q2 TAKE THREE

Related Posts

ProFrac Holding’s Perspective in Q1: KEY Takeaways
Market Trends

ProFrac Holding’s Perspective in Q1: KEY Takeaways

June 20, 2025
How does the current Middle East Situation play out?
Frac

How does the current Middle East Situation play out?

June 19, 2025
Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)
Market Trends

Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

June 18, 2025
Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!
Market Trends

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

June 16, 2025
Nabors Industries’ Perspective in Q1: KEY Takeaways
Market Trends

Nabors Industries’ Perspective in Q1: KEY Takeaways

June 16, 2025
ProPetro’s Perspective in Q1: KEY Takeaways
Market Trends

ProPetro’s Perspective in Q1: KEY Takeaways

June 13, 2025
Next Post
Nabors: Q2 TAKE THREE

Nabors: Q2 TAKE THREE

Please login to join discussion

Recent News

ProFrac Holding’s Perspective in Q1: KEY Takeaways

ProFrac Holding’s Perspective in Q1: KEY Takeaways

June 20, 2025
How does the current Middle East Situation play out?

How does the current Middle East Situation play out?

June 19, 2025
Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

June 18, 2025
Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

June 16, 2025
Nabors Industries’ Perspective in Q1: KEY Takeaways

Nabors Industries’ Perspective in Q1: KEY Takeaways

June 16, 2025
Primary Vision

Established in 2011, we are renowned for our expert frac data and analytics, providing a rich array of unique indicators and industry commentary.

CONTACT

+1-713-554-4977
info@primaryvision.co

SOCIAL NETWORKS

POLICIES

Privacy Policy
Terms of Use

PARTNERS

Amazon Web Services

TRUSTED SITES

Logo

Logo

RECENT NEWS

ProFrac Holding’s Perspective in Q1: KEY Takeaways

ProFrac Holding’s Perspective in Q1: KEY Takeaways

June 20, 2025
How does the current Middle East Situation play out?

How does the current Middle East Situation play out?

June 19, 2025
Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

June 18, 2025
Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

June 16, 2025
Nabors Industries’ Perspective in Q1: KEY Takeaways

Nabors Industries’ Perspective in Q1: KEY Takeaways

June 16, 2025
  • HOME
  • ABOUT US
  • RESEARCH
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!

© 2025 Primary Vision. All rights reserved.

  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!

© 2025 Primary Vision. All rights reserved.