Weak economic data out of China puts pressure on oil prices
China's economy is recovering more slowly than expected. According to the latest data, the country's GDP rose by 6.3% year-over-year in Q2 after moving up 4.5% YoY in Q1.
China's economy is recovering more slowly than expected. According to the latest data, the country's GDP rose by 6.3% year-over-year in Q2 after moving up 4.5% YoY in Q1. It was forecasted to grow by 7.1%. Signs of an economic slowdown in China, a major oil consumer, raise concerns about demand for oil. Brent crude oil prices are declining.
Disclaimer: The information in this article is not intended to be and does not constitute investment advice or any other form of advice or recommendation of any sort offered or endorsed by Libertex. Past performance does not guarantee future results.
Why trade with Libertex?
- Get access to a free demo account free of charge.
- Enjoy technical support from an operator 5 days a week, from 9 a.m. to 9 p.m. (Central European Standard Time).
- Use a multiplier of up to 1:30 (for retail clients).
- Operate on a platform for any device: Libertex and MetaTrader.