Market and Economics Report – November 2008

The reality of a global recession became further entrenched in November. Financial market volatility persisted and some of the world’s major economies reported successive quarters of negative growth. Consequently, the IMF revised its world growth estimates down. The US economy contracted in the September quarter with real gross domestic product (GDP) declining 0.1%. US housing…

China's slowdown

This note looks at the slowdown now unfolding in China. The key points are as follows: – Chinese growth has already slowed significantly on the back of slowing exports and a property slump. Growth is likely to slow to 8% in 2009. – However, a hard landing (say 5% growth) is unlikely: the global financial turmoil…