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6.7% is the answer. Never mind the question.

| Posted by: Paul Donovan | Tags: Paul Donovan

  • China grew at 6.7% in the third quarter. Quite by coincidence, China's target rate of growth is around 6.7%. The nature of growth is becoming more domestic (consumer and services led), which means that modest fluctuations in China's growth have less significance outside China's borders.
  • The US presidential debate takes place tonight. An intellectual discussion of policy is possible. It is not, perhaps, likely. Market attention has started to shift towards the expected outcomes in Congress, and in particular what might happen in the House of Representatives.
  • The US Federal Reserve's Beige Book of economic gossip from the different regions is due. With the Fed divided, details on the labor market may matter. Two Fed speakers are scheduled - their views on the hotness of the US economy will be of interest.
  • The UK has Chancellor Hammond speaking – he is perceived as one of the rather lonely pro-business voices in government. This comes ahead of the EU leaders' summit in Brussels tomorrow, a summit to which the British have actually been invited.