What Global Economic Slowdown?
As far as economic news goes, Nov. 10 was a pretty rough day. On that day, both France and Japan put out reports that showed much more softness in their economies than experts had been forecasting. France, the Eurozone's second-biggest economy after Germany, reported that its economic growth had ground to a halt in the third quarter, down from 1.2% in the second quarter. The abrupt slowdown prompted economists at Citigroup (C), JPMorgan Chase (JPM), Commerzbank (CRZBY), and the Royal Bank of Scotland all to slice their estimates for European growth.
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