Struggling Chinese imports dim the global growth outlook ...Middle East

The US economic calendar is bare today save for a three-year auction but China released import data earlier today and it showed growth of just 0.5% y/y compared to 2.0% expected. That's a sharp slowdown from the +7.2% y/y rise in July.The global manufacturing cycle starts in China and orders for imports are based on how factories view futures demand. Soft imports highlight a tepid view and also underscores poor domestic demand.The good news is that exports grew at the fastest pace since March of last year. That signals that current demand is still fine (or was in July). What's notable is that the breakdown shows a 12.2% rise in exports to the US while Europe was down 5.3%.On the imports side

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