Apollo
- Economic growth trends between the US and China have increasingly diverged throughout 2023.
- China has continued to suffer from a wobbly real estate market and a weak reopening from the pandemic.
- The US recently printed third-quarter GDP growth of 5.2%, its highest since 2021.
Our Chart of the Day is from Apollo chief economist Torsten Sløk, which shows that growth trends between the US and China are increasingly diverging.
Since the summer, growth expectations for China have declined while those for the US economic have steadily increased. The dynamic suggests that the world's two biggest economies are no longer tied to the hip as they once were.