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The data pointing to the economic recovery is leveling off, showing weaker manufacturing activity and stagnant personal income.
New numbers showed the Chinese service sector today growing at its lowest level for 17 months while a fifth consecutive month of weaker manufacturing data led to a 7% fall in equity prices in Shanghai on Monday.
Consumer spending has propped up GDP growth in the last year after a sharp downturn in construction and weaker manufacturing sector, which has lost momentum in response to slowing growth in global trade.
So far, notwithstanding weaker manufacturing, as reported the day before, there has been no clear sign from the real economy that the slowdown will in fact become a recession.
The UK's trade deficit with the rest of the world widened by more than expected in April, because of weaker manufacturing exports, official data showed on Friday.
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Weak manufacturing data also hurt stocks.
The weak manufacturing survey overshadowed other positive economic reports.
Russia has a weak manufacturing base, apart from arms.
With a weak manufacturing base, however, meeting this demand is by no means inevitable.
Sterling has been suffering since this morning's weak manufacturing data was released, fueling fears of a triple-dip recession.
Germany also reported unexpectedly weak manufacturing orders in September, suggesting that the worst might be yet to come.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com