From Brad Setser: Follow The Money
"By bsetser
China’s GDP growth stalled in the fourth quarter, which represents an enormous deceleration from its typical fast growth.
US GDP fell at a close to 4% annualized rate in the fourth quarter. The decline would have been steeper but for a big buildup in inventories. That will subtract from growth in q1.
Japanese GDP growth fell by around 10%. Some estimates are now even putting the q4 fall, annualized, at close to 12%. The fall in smaller Asian economies was often even larger.
And now we know that Europe’s GDP fell by 1.5% q/q, or 6% annualized. Germany, until recently Europe’s strongest economy, contracted at an 8% annual rate."
For the rest please follow the link.
Sunday Night Futures
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Weekend:
• Schedule for Week of April 28, 2024
Monday:
• At 10:30 AM ET, *Dallas Fed Survey of Manufacturing Activity* for April.
From CNBC: Pre-Market Dat...
3 hours ago
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