Chinese factories limp, Japan inflation goes backwards
In September, China’s factory sector struggled to gain speed, while in August, Japanese inflation went backwards, notwithstanding the best efforts of policymakers, thus underscoring the limits of stimulus in reviving global growth.
Friday's unflattering figures bookmarked a week, where the IMF warned it would probably downgrade forecasts for the American economy, while the World Trade Organization downgraded its outlook for global trade flows.
It happened to be unwelcome news for markets spooked by troubles at Deutsche Bank, whose American stocks took a hammering on the data that some hedge funds had minimized financial exposure to Germany's largest lender.
However, the bank told that the vast majority of its clients are still supportive, though the situation still drew comparisons to the 2008 collapse of Lehman and the resulting global financial downtime.
At least there was some evidence that China, the world's number two economy, had stabilized, if only due to a burst of government spending as well as a red-hot housing market.