Greetings,
The United States: The U. Michigan consumer sentiment index is recovering from the August slump.
Gallup’s economic confidence index also shows improvement.
The Eurozone: The Markit PMI report showed potential signs of stabilization in the Eurozone’s factory sector. However, service-sector growth continues to slow.
China: According to Gavekal, Chinese cities have limited their sales of land ahead of pending changes to rules which could make low-cost land available in the future. As a result, supply was restricted this year, causing developers to bid up prices for land.
Credit: According to Goldman, owning “quality” in US credit and equity markets has rarely been this expensive.
Global Developments: Oxford Economics expects the slowdown in global growth to continue next year.
Food for Thought: Estimated wealth of the world’s 100 richest people:
Edited by Daniel Moskovits
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