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Thursday, October 31, 2019

The US GDP growth declined to 1.9%.

https://sg.news.yahoo.com/us-economy-grows-modest-1-123602190.html

The US GDP growth slowed to 1.9% but this would still be an optimistic number in the face of the consecutive declines in its PMI.

https://sg-stock.blogspot.com/2019/10/ism-pmi-declined-to-478-in-september.html

We don't want to accuse the US of fudging its GDP number but the declining PMI numbers are showing a more dire strait situation.

Anyway, let's put this aside and look at another thing that most media omit.

https://sg-stock.blogspot.com/2019/07/the-us-china-trade-war-impacts-on-both_27.html

China GDP growth - 3rd Qtr: 6%
US GDP growth - 3rd Qtr: 1.9%

China has grown its GDP by US$0.82T (6% of GDP US$13.6T) this quarter but the US is only growing at US$0.39T (1.9% of GDP US$20.5T).  In other words, China is growing at twice the US growth rate in absolute terms.

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