China’s economic growth dropped to its slowest annual rate since 1990 as the US trade war and policy decisions in Beijing hit consumer sentiment. Growth for the full year was 6.6 per cent, down from 6.8 per cent in 2017, the lowest level since the country faced international sanctions after the Tiananmen Square massacre. Gross domestic product growth fell to 6.4 per cent in the fourth quarter, the lowest level since the global financial crisis. Growth has now slowed for three consecutive quarters, prompting concern among investors that the country could drag down the global economy. (FT)
The World Economic Forum begins tomorrow in Davos, Switzerland. The snowy summit, which will draw business and political leaders from around the world for economic consultations a and $60 Caesar salads. Neither US President Donald Trump nor UK Prime Minister Theresa May will be in attendance due to political issues at home. Also absent this year will be President Xi Jinping of China and India’s Narendra Modi, both of whom attended Davos in 2018. (Alphaville)
Markets are closed today for MLK day.
With Northwest Quadrant Wealth Management a Registered Investment Advisor I am Josh Fenili.