Global Weekly: What's that humming?

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It’s the global economy, which is whirringalong at a decent clip. There is good newsregarding growth in China and the eurozone economy continues to exhibit positive surprises. A better-than-expected secondquarter earnings season is boosting equity markets and providing support that fundamentals remain strong.

The global economy continues to grow a little faster than its trend. In China, economic growth and industrial production were recently stronger than expected. In fact, most analysts had thought there would be a moderate slowing of economic growth. Given the large role played by China’s economy in the short-term direction of global growth – this is an important and encouraging sign.

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