Weekly Cryptonews
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
China’s industrial companies show the slowest surge for 7 months
In November, revenues at China's industrial companies ascended at their slowest tempo for seven months because demand as well as producer price leaps relieved in further confirmation of ebbing surge in the world's number two economy.
The lower income actually underscores rather a delicate balancing act for the government as it extends a campaign to reduce the country’s reliance on credit-intensive investment without affecting the national economy.
In November, revenues rallied 14.9% hitting 785.8 billion Yuan, according to the National Bureau of Statistics. It marked the slowest monthly surge rate since April's outcome of 14.0%.
In November, revenues were suppressed by a slower tempo of price surges versus previous months.
Market experts noted that November's sag in producer price inflation to 5.8% from 6.9% in October happened to be one of the biggest in 2017.
More than half of the jump in revenues in Jan-Nov came from washing, coal mining, steel and iron smelting, natural gas and crude extraction, processing.
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RBNZ Meeting
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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