German Data Point to Economic Slowdown Expectations for Germany’s economy fell in August, according to a closely watched ZEW survey, indicating that the second quarter’s strong growth is unlikely to continue. ZEW said its economic expectations index fell to 14.0 in August, from 21.2 points in July.
Berkshire Doubles J&J Stake; Soros Fund Drops 42% Warren Buffett’s Berkshire-Hathaway took a stake in Fiserv and sharply increased his Johnson & Johnson stake, a securities filing says. Meanwhile, the value of George Soros’s hedge fund dropped by 42% to $5.1 billion at the end of the second quarter.
Singapore Export Growth Eases In July Non-oil domestic exports from Singapore grew 18.2% from a year earlier in July, slowing sharply from a downwardly revised 28.5% expansion in the previous month
U.K. Inflation Nudges Lower The annual inflation rate dipped to 3.1% in July from 3.2% in June. On a monthly basis, the consumer price index fell 0.2% in July after a 0.1% rise in June. Core inflation slowed to 2.6% annually in July from 3.1% in June, the lowest level since November last year.
China FDI Growth Drops China’s foreign direct investment growth slowed sharply in July, but economists played down the fluctuation, saying the country’s vast market will continue to make it a hot investment destination.
China reduces US Treasury debt holdings China reduced its holdings of US Treasury debt for a second straight month in June while the holdings of Japan and Britain rose. China’s holdings fell by $24 billion to $843.7 billion, a decline of 2.7 percent.
Berner: Protectionism risks are increasing The unfavorable global economic environment, including protectionism, may pose the biggest risk to the Chinese economy in the second half of the year, Morgan Stanley Chief US Economist Richard Berner said.