News 

China revises up nominal 2018 GDP, says won’t impact 2019 growth calculation

“The change in the size of 2018 GDP will not significantly influence the calculation for the 2019 growth rate, the statistics bureau said” writes Midwest Communications Inc for 95kqds.com. Days before GDP data for 2018 was released in January, the statistics bureau cut its final 2017 growth figure to 6.8% from 6.9%.China routinely revises its annual GDP data.The government’s target range for 2019 growth is 6%-6.5%.The revisions showed that the services sector contributed more to GDP in 2018 than the original data had indicated, the National Bureau of Statistics said…

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Singapore upgrades third-quarter GDP, dodges recession

“SINGAPORE (Reuters) – Singapore’s economy grew faster than initially estimated in the third quarter, official data showed on Thursday, confirming the bellwether Asian economy comfortably escaped a recession helped by an improving manufacturing sector” writes Midwest Communications Inc for 95kqds.com. The government also narrowed its official growth forecast for 2019 to 0.5% to 1.0% to the upper half of its previous 0.0% to 1.0% projection range. Singapore’s exports in October shrank for the eighth straight month and were worse than analysts’ expectations as shipments of electronics slid, official data showed…

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Germany just narrowly avoided recession — but a downturn ‘is more likely than not’ in 2020

“Germany’s economy narrowly avoided recession, as data released on Thursday by the German Federal Statistics Office (Statistisches Bundesamt) shows that GDP increased 0.1% in the third quarter” writes Yusuf Khan for businessinsider.com. Germany’s economy also acts as a lynchpin in the European economy, if Germany falls into recession, the rest of Europe is also at risk.Much of Germany’s slowing output is due to down to a steep decline in manufacturing — the largest sector of the German economy.The German economy shrank 0.2% in the second quarter, according to official data,…

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Markets News Stocks 

European stocks edge lower as US-China talks hit stalemate; Germany avoids technical recession

“European stocks traded slightly lower Thursday morning as trade negotiations between the U.S. and China are understood to have hit a roadblock” writes Elliot Smith for cnbc.com. Asian stocks were mixed during Thursday afternoon trade as Chinese industrial production data missed expectations.Just one month after agreeing in principle on the so-called phase one of a trade deal, the world’s two largest economies have reached a stalemate in negotiations. Source: cnbc.com

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French fourth quarter GDP growth will slip to 0.2%, Bank of France estimates

“PARIS (Reuters) – The French economy should grow 0.2% in the fourth quarter, the Bank of France estimated on Tuesday, which would mark a slowdown from the third quarter as international trade disputes cloud the outlook for the global economy” writes Midwest Communications Inc for 95kqds.com. Third-quarter economic growth of 0.3% was good news for President Emmanuel Macron, although concern remains about the impact of international trade disputes on both the euro zone and global economy.Business leaders expect industrial production to slow in November, particularly among carmakers, who have been…

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GBP News 

The U.K. is growing like France. Why does it get a bad rap?

“The European Commission forecast released last week predicted the U.K. economy would grow 1.3% this year and 1.4% next” writes Senior Writer for marketwatch.com. A hung parliament would raise the prospect of new chaotic debates on a possible Brexit deal.Even before it has happened, Brexit has already had an impact on the U.K. economy, because of the prolonged uncertainty of the past three years.Opposition parties will insist that Brexit has taken its toll on the U.K. economy, which is still facing significant uncertainties in spite of a deal Prime Minister…

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Cable holds firmer on the day; UK Q3 GDP data in focus

“Therefore, Q3 GDP data later may present some good news for the pound but it wouldn’t be the springboard for a move back towards 1.3000 unless election uncertainty dissipates over the next few weeks” reports forexlive.com. Sellers are still in near-term control for now despite the pound retracing some of last week’s losses to start the new week.The dovish tilt from the BOE last week allowed sellers to drive cable below 1.2800 towards the end of the week but we are seeing price creep back up just above the figure…

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GDP data show U.S. economic growth tapering to 1.9% in third quarter

“While tensions over international trade policy have unnerved businesses, consumers have mostly shrugged it off” writes Jeffry Bartash for marketwatch.com. The numbers: Confident consumers kept the U.S. economy humming along in the third quarter, spending more than enough to counter a big drop in business investment tied to falling oil prices and the ongoing trade war with China.Big picture: GDP is the official measuring stick of the U.S. economy — and what it shows is steady if unspectacular growth. Source: marketwatch.com

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Third-quarter economic growth is expected to be a tepid 1.6%, but markets could look past it

“Third-quarter growth is expected to come in at a weakish 1.6%, with the biggest hits to come from slowing business investment” writes Patti Domm for cnbc.com. “The data on business fixed investment has been somewhere between tepid and awful in the quarter.Gapen said in business investment, equipment spending is expected to be down 4%, after rising about 0.8% in the second quarter.Business fixed investment, we think will subtract a half percent. Source: cnbc.com

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