Written by By Staff Writer
Economic data released for the month of August shows how the world’s economies are faring. A breakdown of key numbers is below:
U.S.
U.S. economic growth in August was reported Friday as the weakest since July 2016. The headline reading, which grew by 0.7% year over year, was largely driven by consumer spending. Non-residential investment — a category that can be volatile month to month — was slightly lower than expected.
Emerging markets
The first estimates for August, also released Friday, show that China’s economy grew by 6.7% year over year in the third quarter, the second-fastest pace in two years. It was slightly lower than the median forecast, but also a improvement from the previous month.
Emerging markets are those outside developed economies, and growth has increased, albeit slowly, in most of them. Brazil’s was 6.4% year over year, up from 2.8% the previous month.
China, India and Russia also saw growth go up over the month, though India’s was lower than expected. Argentina, Chile and Turkey’s data were equally mixed, with Brazil taking a beating.