Janet Mui: weekly economic update
The UK economy continues to flag. The eurozone fares better as Germany avoids recession, and in China the authorities look increasingly likely to intervene further to support growth.
- In the UK, third-quarter GDP, along with retail sales and employment data, all point to a weakening economy.
- But in Europe this week's data was stronger than expected, with Germany avoiding a technical recession. Leading indicators now suggest stabilisation.
- China: a broad-based slowdown is evident in industrial production, retail sales and elsewhere. The Chinese government is increasingly likely to intervene further to support economic growth.