november: global economy

The global economy had a pretty good October. Resilience was reflected. This despite a government shutdown in the United States. Even retail reports in the U.S. were good for October.

The November "so far" looks shaky. Manufacturing missed expectations. This signals a deceleration in growth. Any improvement was largely confined to Germany. The PMI there notched up the best growth, according to Markit economist Chris Williamson.

Growth outside France and Germany slowed to near stagnation. GDP could fall in the fourth quarter.
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