Tokyo (AFP) - Japan's factory output contracted a worse-than-expected 0.6 percent on-month in July, official data showed on Monday, owing to lacklustre demand at home and as a slowdown in China weighs on exports.
Tesla Motors Inc (NASDAQ:TSLA) Chief Executive Elon Musk said in a Twitter message that his Chinese transcript of visit to Tsinghua University event in Beijing was not transcribed correctly. The CEO said that he plans to negotiate for local production in China, rather than setting battery or auto production plant in China.
BEIJING: Growth in China's investment and factory output missed forecasts in August, pointing to a further cooling in the world's second-largest economy that will likely prompt the government to roll out more support measures. The downbeat data came on the heels of weak trade and inflation readings, raising the chances that third-quarter economic growth may dip below 7 percent for the first time since the global crisis. Fears of a China-led global economic slowdown have roiled global markets in recent weeks, prompting speculation that the U.S.
LIMA: Global finance leaders believe China will weather its slowing growth and manage a successful transition from an export to a consumer economy despite a huge buildup of internal debt in the world's second largest economy. The International Monetary Fund believes the Chinese economy will grow 6.8 percent this year and 6.3 percent in 2016, slower than recent levels but still enough to keep driving global economic growth when other positives have largely disappeared.