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9/29/2014
In the US, the third announcement for Q2 GDP showed the economy growing at 4.6 percent annualized rate compared to the initially reported 4.0 percent. Following record aircraft orders in July, durable goods orders plunged 18.2 percent in August. Excluding the volatile transportation sector, however, activity in the manufacturing sector continued to expand at a healthy pace.
Globally, data released this week did not provide a better picture on global economic environment than what the world has been getting used to during the last several quarters. A little bit better reading for the Chinese manufacturing PMI, while Eurozone PMIs came in lower than expected. The Mexican economy is starting to look better and the Argentine economy produced no growth comparing to the same period last year.