Chinese manufacturing activity unexpectedly rebounds in Nov- Caixin PMI

[ad_1]– Chinese manufacturing activity unexpectedly rose back into expansion in November, a private survey showed on Friday, as  a mild increase in domestic demand helped offset a persistent decline in overseas orders. The (PMI) rose to 50.7 in November, beating expectations for a reading of 49.3, and improving sharply from the 49.6 seen in … Read more

Fed’s preferred inflation gauge slows annually in October

[ad_1] — The Federal Reserve’s preferred inflation gauge rose at a slower rate on an annual basis in October compared to the prior month, in the latest sign that the central bank’s long-standing campaign of interest rate hikes may be working to corral price growth. Last month’s so-called “core” (PCE) price index, which strips out … Read more

China’s manufacturing PMI shrinks further in Nov, misses expectations

[ad_1]– Chinese manufacturing activity declined further in November, as the sector saw increased headwinds from slowing overseas demand, while growth in the non-manufacturing sector also deteriorated.  The official (PMI) read 49.4 in November, data from the National Bureau of Statistics showed. The reading was weaker than expectations of 49.6, and contracted from the prior … Read more

Australia CPI inflation eases more than expected in Oct, but remains sticky

[ad_1]– Australian consumer inflation fell more than expected in October amid softening retail spending and a cooling labor market, but still remained well above the Reserve Bank of Australia’s target range.  (CPI) inflation grew 4.9% year-on-year in October, data from the Australian Bureau of Statistics (ABS) showed on Wednesday. The reading was weaker than … Read more

Australia retail sales shrink in Oct as spenders hold out for Black Friday

[ad_1]– Australian retail spending unexpectedly shrank in October, as sticky inflation and pressure from high interest rates weighed, while consumers also held off big purchases in anticipation of the Black Friday shopping event in November.  fell 0.2% in October from the prior month, data from the Australian Bureau of Statistics (ABS) showed on Tuesday. … Read more

Japan core CPI inflation grows slightly less than expected in Oct

[ad_1]– Japanese core consumer inflation grew slightly below expectations in October as food  prices eased, although the reading still remained well above the Bank of Japan’s target as overall inflation accelerated.  , which excludes volatile fresh food prices, grew 2.9% year-on-year in October, data from the Statistics Bureau showed on Friday. The reading was … Read more

India’s Trade Improvements Amid Global Challenges and Domestic Shifts

[ad_1] By Aayush Khanna India’s trade dynamics showed improvement in September 2023, with the merchandise trade deficit narrowing to US$19.4 billion, surpassing consensus estimates of US$23.3 billion. This positive shift was driven by a substantial double-digit decline in imports (-15% YoY) compared to a moderate dip in exports (-2.6% YoY). For H1 FY24, the overall … Read more

Australian jobs surge in Oct, but labor market still seen cooling

[ad_1]– Australia’s labor market grew more than expected in October as the participation rate returned to record highs, although an increase in unemployment and a slowing pace of hours worked suggested that the labor market was still cooling.  The grew by 55,000 in October, according to data from the Australian Bureau of Statistics (ABS). … Read more

China industrial production beats expectations in Oct, retail sales rise

[ad_1]– Chinese industrial production grew more than expected in October, while retail sales also rose past expectations as continued stimulus measures from Beijing appeared to be boosting local demand to some degree.  grew 4.3% in October from the prior year, data from the National Bureau of Statistics showed on Wednesday. The reading was more … Read more

Japan Q3 GDP shrinks more than expected as sticky inflation weighs

[ad_1]– The Japanese economy shrank more than expected in the third quarter as sticky inflation and a weak yen dented private spending, while demand in the country’s biggest export destinations also worsened.  shrank 0.5% in the three months to September 30 from the prior quarter, preliminary data from the Cabinet Office showed on Wednesday. … Read more