US economy shows resilience, while China falters

 US economy shows resilience, while China falters

Investors are closely watching economic data. Tuesday’s inflation figures showed inflation is cooling in the US, but today’s August retail sales report shows that the US economy is resilient. Sales at retailers grew 0.7% last month, the Commerce Department said. Excluding cars, sales rose 1.8% last month.

In the United States, the oil sector is doing well, and almost all other sectors have followed suit. In addition, nine of the ten largest local stocks were up yesterday, which obviously helps. The exception is Facebook, whose stock lost 0.7%, probably because of a series of virulent articles in the Wall Street Journal, unveiling internal reports confronting the company with its own contradictions.

But Facebook is not the most prominent company of the moment, but Chinese real estate group Evergrande. Its financial woes are making headlines, since they have become  more than a regional issue, with a “systemic” risk. The term…

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