Global Economic Prospects 2014

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Purchasing Manager Surveys show manufacturing cooling on both sides of the Atlantic


In U.S. economic news today: personal consumption expenditures (PCE) in August beat market expectations, by rising a fairly sharp 0.4% (m/m) for a second month in succession. The gains were rooted in a favorable 0.5% monthly rise in personal incomes (the biggest advance of 2010), while the household saving rate moved up by a tenth of a point to 5.8%. This development adds more support to the view that U.S. domestic demand should continue on a modest (and likely decelerating) growth course over the remainder of 2010.

Prospects Daily: Europe debt concerns Persist

Important developments today:

1.  Debt concerns on some European countries persist

2.  Japanese export growth continues deceleration

 

Debt concerns on some European countries persist. Investor concerns about the fiscal health of selected eurozone economies has deepened, as worsening debt problems for Ireland and Portugal are pushing interest costs higher across the region.

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