Posted on 08/14/2014 6:22:16 PM PDT by BenLurkin
The euro area's weaker-than-expected performance was announced a day after Japan, the world's third-biggest economy, reported that economic output fell 1.7% in the second quarter from the prior three months, a drop of 6.8% at an annual rate.
Moreover, China's economy is showing signs of slowing at the start of the third quarter. Its pace of retail sales, investments, industrial production and new lending all softened in July compared with the previous month.
All in all, the latest batch of disappointing news from East to West reinforces the view that global growth will be sluggish this year, and it increases the risk that economic problems overseas could weigh on the U.S. recovery.
Foreign trade is expected to be a drag on U.S. growth — and things could get worse if geopolitical tensions in Ukraine and the Middle East deepen.
(Excerpt) Read more at latimes.com ...
China and Russia are starting their “Bunk in” procedures.
Unexpected.
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