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That partly reflects lower commodity prices.
"Growth keeps slowing... Lower commodity prices, including oil, partly reflect weakening demand itself.
Barclays Capital also cited lower commodity prices, saying that domestic demand, while moderating, remained "robust".
Lower commodity prices have led to falling headline inflation rates around the world.
This suggests that investors do not see lower commodity prices as a kiss of death.
But it tumbled not because investors fret about the impact of lower commodity prices.
Investors worry about continuing high inflation (in emerging Asia) and lower commodity prices (in Latin America).
A slowdown in demand in China is one of the drivers of lower commodity prices.
To the extent that they reflect lower commodity prices, they are good news for consumers.
In other cases, among big exporters like Russia, lower commodity prices were hurting growth.
Producer prices are falling in lots of other rich economies, thanks to lower commodity prices.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com