Zero Hedge
January 17, 2019
A dramatic and sudden slowdown in the rate at which numerous commodities are being shipped to China suggests slowing demand for raw materials in the world’s second-largest economy, and signals a wider economic slowdown globally looms.
“Recent shipping data has turned negative with charter rates across all sectors notably weaker compared to late November levels,” Morgan Stanley analysts Fotis Giannakoulis, Qianlei Fan, and Max Yaras wrote.
“While such moves are common, the synchronized decline may be a warning for Chinese commodity demand.”
Morgan Stanley continues:
During the last six weeks almost all shipping sectors have seen charter rates move lower, raising concerns about the health of underlying demand.
Of course, this data is just the latest in a long line of worrying news for the Chinese economy, but might just be the straw that breaks the ‘hope’ camels’ back.
This article was posted: Thursday, January 17, 2019 at 8:02 am
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