The latest Chinese economic data released on Friday shows that China had the slowest period of economic growth in three years. China’s first quarter GDP growth rate was 8.1%, missing analysts’ estimates of 8.3%. It is the 5th consecutive quarter of slowing GDP growth for China.
During the 4Q of 2011, China posted a GDP of 8.9%.
3Q of 2011 was 9.1%, 2Q of 2011 was 9.5, and 1Q of 2011 was 9.7%.
Despite missing GDP estimates, shares in Asia rose on Friday based on the expectation that an economic bottom is forming and has already been reached in China. Speculation is building about the prospect of the Chinese government taking easing measures to help support growth.
Qu Hongbin, an analyst from HSBC, told Bloomberg that the recent slowdown with China’s economy calls for quantitative easing from the Chinese government. He said that an interest rate cut was not likely to occur until China’s (CPI) inflation rate falls below 3%. China is still on track to reach their 7.5% growth target for 2012.
JP Morgan and Wells Fargo will both post their quarterly earnings results on Friday.
Shares of Google rose slightly in afterhours trading on Thursday following news that Google posted good earnings numbers. Google also announced plans for a stock split and future dividend.
Update- House Cleaning
Schweitzfinance.com was temporarily unavailable earlier today for a couple of hours. I have been working to eliminate inappropriate spam text that mysteriously appears on Google’s search engine when this site is searched.
Please be assured that when operating this website, I have taken steps to avoid any spam from threatening guests who visit this site.
I was told by my web host company that every guest who visits here doesn’t face any threats whatsoever when viewing pages.
But there is still a small amount of inappropriate spam text that still appears on Google when my website is searched.
I am currently taking steps to fix this problem and plan to hire a 3rd party company to ensure that my blog is never being negatively misrepresented with inappropriate words during any internet search.
During my website clean up today, I managed to remove the subscribe button that was previously located in my header. I disliked that annoying subscriber icon from the start and never had any plans to charge my guests for viewing posts here. The subscriber icon was built into my website.
At some point in the future, I may add a paypal icon in my header just in case some guest(s) may feel motivated in the future to make a financial contribution towards keeing this site working smoothly since I have pay out of pocket money to make this site available to guests.
But I want to make it clear that I have no plans to ever solicit money on this site. I genuinely enjoy helping to inform my audience about news that are impacting the global markets. That has always been my primary motivation for operating this blog site and it will never change.