Salient to Investors:

Julian Callow at Barclays Capital said Europe won’t this time be able to bank on the Chinese recovery to lift its economy out of the quagmire because China is moving to consumption, away from investment, traditionally where Europe’s exporters would have benefited.

Chris Williamson at Markit said today’s report suggests the downturn will accelerate significantly in Q4, which could see GDP fall by as much as 0.5 percent.

The Bloomberg Consumer Comfort Index indicates the share of US households projecting the US economy will improve rose to 37 percent, the highest since March 2002.

Christian Schulz at Berenberg Bank said the euro-area manufacturing gauge is at the highest since March, and while still contracting, there is some anecdotal evidence pointing to better business with China.

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