Worrisome news on Europe’s and Chinese economy

Via #Bloomberg, additional worrisome news on #Europe's #economy:

"Industrial production … is falling at the fastest pace since the financial crisis, and deteriorating demand is evident as the region finds itself squeezed between international and domestic drags." #markets pic.twitter.com/lwQYDkpxtP

— Mohamed A. El-Erian (@elerianm) February 13, 2019

China – industrial production is collapsing – 4 of 5 subcomponents are negative yoy #china #recession pic.twitter.com/yjDFDFiQVy

— Kyle Bass (@Jkylebass) February 13, 2019

#China’s #housing market continues cooling trend in new year.Major developers reported significant declines in home sales in January.In the week-long Spring Festival holiday, new homes sales declined by 56% y/y in 17 major Chinese cities.

China’s real estate market is cooling further, adding more pressure on a sector already losing steam hit by a prolonged policy tightening and concerns about a slowing economy.

As of February 12th, 26 real estate developers tracked by the Centaline Property reported a 13.6 per cent decline in combined contracted sales, compared to the same period last year. In addition, more than 30 of the top 100 developers saw sales drop year-on-year, among which, 16 developers’ sales dropped by more than 30 per cent.

China new home sales decline by 56 per cent during Lunar New Year holidayt.co/1AstVkZkPu

— Sven Henrich (@NorthmanTrader) February 13, 2019