Headlines discussed at LNWM’s Monday morning briefing:
— The US passed legislation backing Hong Kong pro-democracy protests, potentially threatening US-China Phase I trade deal by year-end.
— US GDP growth for 3rd quarter 2019 was revised upward to 2.1%, but still significantly below 3.1% GDP growth for 1st quarter 2019.
— US consumer spending rose again in October (the 8th straight month), but Oct. take-home pay fell for the 1st time since 2015.
— India’s GDP growth for 3rd quarter 2019 sank to 4.5%, down from 7% for the year-earlier period and 9% in 2016.
— German unemployment fell in November, on higher manufacturing and stabilizing exports, reducing prospect of monetary stimulus.
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