By George Hay
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
A dip in 30-year mortgage rates to their lowest level in more than a year and stronger U.S. housing data on Friday appeared to be the green shoots of the next phase of U.S. economic recovery, that being the housing market.
The truncated Diwali week saw the Nifty closing at 8,014, recovering from a “breakdown” scare and ending about 3 percent higher to welcome the new Hindu calendar year - Samvat 2071.
Sweeping economic reform initiated by China President Xi Jinping in November 2013 marked a turning point for the world's second biggest economy. If implemented fully, China's potential GDP growth can be sustained at 6 percent through 2020. One risk: Falling short of that growth rate could result in growth at half that projection, or worse, leading to a new economic crisis, according to a new study.