The Chinese economy grew by 6.1% in 2019 compared to 2018. This is the lowest growth rate in 29 years. The second largest economy in the world had to deal with the effects of a long trade war with the United States throughout the year. In addition, increasing debts and a weakening domestic demand played a role in the low growth rate. Industrial production and retail sales increased more than expected in December 2019.
Earlier this week, US President Donald Trump and Chinese Deputy Prime Minister Liu He signed a partial trade deal. This indicates a step back in their trade war that started a year and a half ago.
The Nikkei closed on Friday with a win. The Japanese stock market entered the weekend at 24,041.26 points and reached the highest level in fifteen months. A decrease in the Japanese yen helped exporting companies. The Japanese index increased over 0.8% this week, which was dominated by the signing of the trade agreement between the United States and China.
Figures from the US Department of Commerce show that retail sales in the United States increased by 0.3% in December 2019 compared to November 2019. Over the whole of 2019, retail sales in the world’s largest economy increased by 3.6%.
The 6M Euribor is unchanged at -0.33% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.15% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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