- In 3Q Japanese economy slowed from 1.8% to 0.2%
- The level of unemployment in Australia rose to 5.3%
- Economic activity in China is reduced
In 3Q Japanese economy slowed from 1.8% to 0.2% per annum, with 0.4% to 0.1% as compared with the 2nd quarter. A sharp reduction in the rate of GDP growth primarily due to the decline in exports due to the deterioration of the situation in international trade. The volume of private consumption, which accounts for over half of GDP demonstrated growth. Before the tax increase from 8.0% to 10.0% of consumers have purchased more than durable goods than usual. In the 4th quarter GDP growth of Japan could further slow down. Against the background of the poor performance of exports is expected to decline in consumer spending.
In October, the unemployment rate in Australia increased from 5.2% to 5.3%, as predicted by experts. In this case, the number of jobs for the same period fell by 19 thousand., With an expected growth rate of 15 thousand. The situation in the labor market has a strong influence on the decision of the Reserve Bank of Australia's monetary policy. Before the last sitting of the year the regulator will carefully monitor the dynamics of the incoming data.
In October, China's economy continues to slow down, amid Beijing's attempts to resolve the trade dispute with the United States. According to the data released today, industrial output in October rose by 4.7%, compared to the same period last year. In September, the figure was 5.8%. The volume of fixed capital investment was 5.2%, after 5.4% in September. The volume of retail sales increased by 7.2% for the year, against 7.8% in the preceding month. All these indicators point to a slowdown in the world's second largest economy.
News, which you should pay attention today:
7:00 GMT. Germany: Germany's GDP for the third quarter
9:30 GMT. UK: Retail Sales report for October
13:30 GMT. US: PPI
15:00 GMT. US: Jerome Powell speech in the US Congress
16:00 GMT. US Department of Energy report on oil stocks
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