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The headline tales within the third quarter are centered on the persevering with downgrade in progress expectations for each the home and international economies. Whereas the financial progress outlook stays constructive, the momentum of that progress exhibits significant indicators of degradation, significantly outdoors the U.S.
Widespread surveys point out a story of two cities. On the brilliant aspect, international shopper sectors are persevering with to exhibit fairly constructive traits. However international manufacturing seems to be dealing with important softening, significantly within the Euro space and, extra particularly, in Germany, which is a number one engine of progress in that a part of the world.
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