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Signs China's economic slowdown is deepening and weak growth in Europe and the U.S. reported Friday further damaged the outlook for the global economy, sending stocks and commodity prices reeling.China's factory sector shrank at its fastest rate in almost six and a half years in August, a private survey showed, pushing investors who fear China's sagging economy will translate into slower global economic growth to take refuge in gold and bonds.The speed with which China's economy is losing steam has led to analysts warning the government may struggle to meet its growth target of 7 percent this year if it doesn't ratchet up policy support.Growth in the U.S. manufacturing sector slowed unexpectedly to its weakest pace in almost two years in August, according to Markit.Most analysts still expect the U.S. Federal Reserve to raise interest rates this year, possibly as soon as September, though minutes from the U.S. Federal Reserve's last meeting in July showed policymakers discussed China, Greece's debt crisis and the weak state of the global economy.
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