Published this morning, and way below Bloomberg’s survey forecasts of an annualised 5.2 per cent growth, the August reading came in at 4.4 per cent, down from July’s 4.8 per cent. Rarely in its history going back to 1990 have we seen readings below 5 per cent, bar a few brief dips in Januarys and Februarys in the early 2000s. Separately, the Financial Times reports today that for the first-time Chinese corporations have become net sellers, to the tune of $40 billion, of global assets; they had been on a serious acquisition trail over the last decade or so.
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