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The Reserve Bank of Australia has trimmed interest rates nearly in half in recent months in an effort to stimulate the economy - but the central bank won't ruled out still more rate cuts if the situation warrants it, the RBA said on Friday in its quarterly statement on monetary policy. The RBA said that unemployment is expected to rise and GDP is likely to remain below trend at 2.5 percent - while inflation figures to remain comfortably low at 1.5 to 2.5 percent.
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The U.K. visible trade gap widened unexpectedly in September to the highest level in almost a year, driven by a fall in exports and a rise in imports, suggesting that the net trade would be a drag on economic growth. Official figures also showed that third quarter construction growth was smaller than estimated in the preliminary GDP report.
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Germany's export grew at its fastest pace this year, while an unexpected decline in goods intake lifted the nation's trade surplus in September. Exports advanced 1.7 percent month-on-month, which was the fastest increase this year and well above the expected 0.6 percent growth. The increase the 1 percent rise in August, data published by Destatis showed Friday.
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With personal income once again rising at a faster rate than personal spending, the Commerce Department released a report on Friday showing that the U.S. savings rate reached a nine-month high in September. The report showed that personal income increased by 0.5 percent in September, matching the increase seen in August. Economists had been expecting income to rise by about 0.3 percent.
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Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of November, according to a report released by Thomson Reuters and the University of Michigan on Friday, with sentiment falling to its lowest level in nearly two years.
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China's recovery has gathered pace with solid expansion in industrial production and exports, official data revealed last week, offsetting concerns that the ongoing economic restructuring could further suppress growth. The data brings in some cheer to the party leaders, who have gathered in Beijing to hash out fresh round of reforms for the economy.
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The data brings in some cheer to the party leaders, who have gathered in Beijing to hash out fresh round of reforms for the economy. The third plenum meeting of the 18th Communist Party of China, or CPC, kicked off in the capital on Saturday.
The National Bureau of Statistics said Saturday that China's industrial production grew 10.3 percent year-on-year in October, slightly faster than a 10.2 percent increase in September. Output was up 9.7 percent in the first ten months of the year.
Growth in retail sales was solid, yet flat at 13.3 percent in October. In January-October, sales grew 13 percent compared with the same period last year, NBS said.
Fixed asset investment rose 20.1 percent in the year through October, almost steady compared with 20.2 percent increase in the year ended September.
China's trade data showed stronger-than-expected rebound in exports in October. Figures from the General Administration of Customs on Friday revealed that the trade surplus more than doubled to $31.1 billion in October.
The country's exports grew 5.6 percent year-on-year in October and imports were up 7.6 percent.
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Japan posted a current account surplus of 587.3 billion yen in September, the Ministry of Finance said on Monday - remaining in the green for the eighth consecutive month.
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Confidence among Australian businesses fell sharply in October as firms started to reassess their future plans in the wake of continued weakness in operating conditions and changed political climate, a monthly survey by the National Australia Bank revealed Tuesday. The business confidence index fell to 5 in October from September's three-and-a-half year high reading of 12.
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A review of Iran's economy will be carried out early next year, the International Monetary Fund said Monday, which will be the first such exercise in two years.
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European Central Bank Governing Council member Ewald Nowotny said on Tuesday that Eurozone inflation is likely to remain very low for some time.
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