Good news-bad news for China and the Eurozone

© Khunaspix Dreamstime.

Reuters reports that the worry that kept global economists awake at night that China’s growth would tank this year was overly pessimistic, with GDP expected to hold at around 7.3% when the third-quarter numbers are revealed next week.

Meanwhile, the Eurozone 18-member single currency bloc is fast heading towards a triple-dip recession as Germany, its main economic engine, hits the buffers with exports plunging by a year-on-year 5.8% in August hobbled by Russian sanctions.

So as the report says: “If China is looking for an expanding destination for its exports, it can probably skip the Eurozone.”