The US economy is likely to face headwinds from the lagged effects of interest rate tightening and fading fiscal stimulus, as well as a stronger US dollar if a tightening Fed policy remains.
A trade war détente was reached between China and the US at the recent G20 meeting in Argentina, but trade issues continue to weigh on markets.
Eurozone GDP growth is disappointing, rising 0.2% in the September quarter according to November’s estimate and well down on the expected 0.4% growth.
Chinese stimulus has been relatively modest, but more could be forthcoming if the trade war continues to escalate.
Australian GDP growth slowed significantly in the September quarter, falling to 2.8% year-on-year from 3.4% in the June quarter.
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