than previously estimated in the first three months of the year. it expanded at a 2% annualised pace, nearly double the previous estimate. last week we saw unemployment data slide, adding to signs of the economy's resilience. from new york, michelle fleury. ask most americans how the world's biggest economy is doing and they may say things are going badly, but the data paints a different picture. the us economy grew 2% in the first three months of the year, almost double initial estimates. consumers spent more, exports held up and prospects for the second quarter also look better. the housing is market focused on recovery and subsidies for semiconductor and electric car plants kicking in. the challenge for the american central bank is keeping

inflation trending down. data due out later on friday from us economist department is likely to confirm prices are cooling. but with inflation still stubbornly high, policymakers here, as in many other developed economies, aren't done raising interest rates. michelle fleury reporting. let's quickly show you how markets reacted. all major major intersystem 0k all major major intersystem ok but japanese nikkei all major major intersystem 0k butjapanese nikkei opening but japanese nikkei opening slightly lower, butjapanese nikkei opening slightly lower, down by about i%. in other news, sporting goods giant nike has reported its latest earnings for the fourth quarter and revenue coming in at $12.8 billion. that's slightly higher than expected and it also means they have beaten revenue estimates for seven straight quartrs, with sales jumping in both its modest market, north america, and in china following the easing of covid—19 restrictions.

chinese authorities have released data showing factory activity. it fell to its five—month low in may. the economy engine has been showing signs of slowing after the post—covid rebound we saw in the beginning of the year. harry murphy cruz of moonies analyticsjoins us for analytics joins us for analysis. analyticsjoins us for analysis. thanks forjoining analysis. thanks for joining us. analysis. thanks forjoining us. 49 is in line with your expectations but a third month of contraction is not good news? ~ , ,., , �* , news? absolutely right. it's broadly what _ news? absolutely right. it's broadly what the _ news? absolutely right. it's broadly what the market. broadly what the market economists expected here but it highlights and challenges facing the chinese economy at the moment. clearly we have manufacturing firms that aren't willing to ramp up their output. that is driven by two

key factors, the first being a very weak domestic economy, hitting new orders, and the other is the slowing global economy hitting demand for what china sells to the world. that's coming through and we can export orders and a combination of that is making manufacturing firms very hesitant and clearly unwilling to expand operations. figs hesitant and clearly unwilling to expand operations. as you said there — to expand operations. as you said there have _ to expand operations. as you said there have been - to expand operations. as you said there have been very - said there have been very worrying weak economic data including very high youth unemployment rates. yet we had heard from premier league at the world economic crime saying he expects the economy to do better in the second order compared to the first. [30 better in the second order compared to the first. do you auree? compared to the first. do you agree? there _ compared to the first. do you agree? there is _ compared to the first. do you agree? there is a _ compared to the first. do you agree? there is a lot - compared to the first. do you agree? there is a lot of- agree? there is a lot of weakness in the chinese economy at the moment. you mentioned youth unemployment at a record high, the week pmi data, households are not keen to spend, private investments going backwards, a lot of weakness coming through. we still expect the chinese

economy to slightly better around 5% growth target set early this year. but that's predicated on new stimulus coming through, so we've sent a little bit of that already, that ppos see cutting a few rates a few weeks ago, fiscal stimulus coming through around evs but clearly we will need to see more and we expect to see more through the third quarter of the year particularly targeting households potentially through tax cuts but also one of the key areas of weakness for china, the property market that struggling to turn before you let you go, some economists have said china could face the deflation problem, falling prices. [30 could face the deflation problem, falling prices. do you auree? it problem, falling prices. do you agree? it is _ problem, falling prices. do you agree? it is a _ problem, falling prices. do you agree? it is a risk. _ problem, falling prices. do you agree? it is a risk. we - problem, falling prices. do you agree? it is a risk. we had - agree? it is a risk. we had exceptionally _ agree? it is a risk. we had exceptionally weak - agree? it is a risk. we had exceptionally weak data i agree? it is a risk. we had - exceptionally weak data prices, zero but 1% annual growth in april, 0.2% in may. don't

expect deflation come through and that's driven off two factors, the first being expect households to gradually regain some of the mentor through the second half of the year and come back to stimulus. the other is a weak currency. the light of the cost of chinese imports so they will import a bit of high prices for the next couple of months and that should see inflation averaged about 1% through the year. thank you forjoining us on the programme. as harry said, the slew of soft economic data has been heading the chinese currency, and beating has recently ta ken currency, and beating has recently taken action against the sliding currency for the first time in almost eight months. the value of the yuan in china is tightly controlled by the government but also not the only country in asia but seeing the currency slide. earlier i spoke with william pesek, and author of asian

economies. he spoke about whether tokyo may intervene. i am surprised the boj has been quiet of late and very tolerant of the weaker yen. there are great expectations now that we'll see intervention in the days ahead and one reason why you have not seen intervention is because the bank ofjapan is worried it would fail and if that fails, and the yen does not stabilise, that might be a signal to markets to push the yen even lower. in many ways the boj governor is a fairly new entity at the boj, only been around since april. i think he is looking around to figure out different options to stabilise the yen without intervening, but intervention seems to be in the cards relatively soon. indeed, in the past it cost a lot of money but hasn't really worked. meanwhile in china the yuan level is set by the people's bank of china. do you expect further intervention by the authorities?

when you look at the chinese currency that is down about 5%, half of the japanese yen, forjapan and china, the idea that these currencies and exchange rates are weakening, is a help at the margin because the chinese economy is already spluttering, the japanese economy is underperforming, so anything that gives these economies a bit of support by the exchange rate is a good thing. the problem is the economic side effects of these kinds of things, inflation is rising, so weaker currency means more important information through basically energy markets and food markets. then there is geopolitics. if the yen and yuan grind lower, when does the us, when does the g7 step up to say stop this trend? when do politics begin to intervene into this trend,

if you will, before authorities do? the majority of companies in the us, europe and uk say they're finding it tough to hire enough skilled workers. one solution suggests that by the british chamber of commerce say employers should look at underrepresented groups. my colleague asked one autistic data analyst on what advice he gave to those looking for work. we have to remember that a lot of autistic people come into the workforce or attempt to get into the workforce carrying with them traumas from earlier in life. one advice is that if you suspect you have autism, get a formal diagnosis. then you know and you will have the law on your side when you apply for work. be persistent. it's too easy to give up.

i've seen too many fellow autistic people giving up and it is very depressing because the failure hurts but be persistent and accept every failure is a learning opportunity and ask for help. i have noticed that there are people that are prepared to take advantage of us, that is all too true, but there are also very many kind people that are able and willing, some are quite eager to help, and perhaps be yourself, that's very difficult to ask of an autistic person, it is very difficult to lower yourself, but at least don't try to be someone who you are not. it is called masking,

which is very common among autistic people. the simplest advice is do your best. that's all anyone can ask of you. as long as you do your best. that's it for asia business report. thanks for watching and have a lovely weekend. bbc news, bringing a different stories from across the uk. members of the university and college union have staged industrial action in a long—running row, including a boycott of marking exam papers. in durham, it's those students who began their courses at the height of the covid pandemic who have just sat final exams. they were expecting to discover their degree classification, but some now must wait. i'm in my finalyearand i've only had a third of my final

year actually marked, which means the university is not able to tell me whether i actually have a degree at the end of it all my classification. they have just been able to tell me what i'm on track to get. the university and college union say will continue to boycott until the universities and employers' association make with a call an improved offer on pay and working conditions. in a statement, durham university told us that: "we deeply sympathise with our students already "impacted by the pandemic who now endure further "uncertainty and anxiety. "we are reassuring our students that any remaining work will be "marked as swiftly as possible and we will provide marks "and the final classifications as soon as they are available." students will be invited to graduation ceremonies, but for some, like rory, it's not what they wanted. i am julia with the catch up.

tonight: an unlawful scheme, a wimbledon controversy and the price of the ticket to space. we start in france where you might have seen the protests like this in the last few days. they started after 17—year—old teen was shot and killed by french police in paris. nahel refused to stop after being pulled over. today a big march has happened in paris led by his mother. protesters call for change to police culture. translation: in the same police there is racism - and we absolutely have to fight that. as long of these questions are not laid out on the table are not taken seriously, of course it will not go well in working—class neighbourhoods. other stories now. the governments scheme to send asylum seekers to rwanda has been ruled unlawful by the court of appeal. the government plan was to try to put people off from crossing

the channel in small boats but two of the three judges said rwanda is not safe enough. in sport andy murray has criticised an official wimbledon poster, and said the image of past and present rates was strange. it shows 15 players but four of the six women are at the back including the williams sisters who won 12 wimbledon singles titles between them. we leave you with ten seconds of space tourism. virgin galactic has launched its first commercial space flight going about 50 miles above the surface of the earth with three passengers on board. each of them brought the ticket for 450,000 us dollars. you're all caught up. see you.

is still winning. hello and welcome to sports day. here are the headlines tonight. here are the headlines tonight. england criticised england criticised for giving away for giving away wickets in the second wickets in the second ashes test at lords. ashes test at lords. can the manx missile can the manx missile take the outright take the outright record for the most tour record for the most tour de france stage wins? de france stage wins? and the girl on the dancing horses now a mother. and charlotte dujardin