Australian GDP sank to 0.3 percent in the third quarter, significantly below analysts’ expectation of 0.7 percent, Australian Bureau of Statistics showed on Tuesday. In the second quarter, GDP grew by 0.5 percent. In the fourth quarter, the RBA is expecting the annual growth to ease to 2.5 percent and will probably be around 2.5% to 2.75%.
The euro zone economy may face another contraction after business activity grew less than expected in November despite heavy discounting, surveys on Wednesday showed, although Asian readings were more upbeat.
Heavy discounting failed to stop euro zone business activity growing less than thought last month, a survey showed on Wednesday, suggesting the bloc's economy may contract again early next year.
The Federal Reserve is welcoming the sharp drop in global energy prices, with two influential policymakers on Monday cheering the boost it should provide American pocketbooks and shrugging off any pressure on already low inflation.
Japan's fall into recession between July-September could turn out to be less severe than feared, with new capital expenditure figures out on Monday suggesting revisions will put the third quarter in a slightly more positive light.
U.S. consumer spending rose modestly in October and a measure of business spending plans fell for a second straight month, suggesting some slowing in the pace of economic growth.
The U.S. economy grew at a much faster pace than initially thought in the third quarter, pointing to strengthening fundamentals that should help it weather slowing global demand.
Asian stocks edged up on Wednesday after data showing the U.S. economy growing at a relatively solid pace calmed investor anxiety over slowing global growth, while the Australian dollar languished near four-year lows against the dollar.
The Swiss National Bank faces the biggest test of its cap on the franc in two years but may find it easier to defend now than when euro zone breakup fears were rampant and the strategy unproven.
Japan’s gross domestic product shrank by 1.6 percent in an annualized basis in the quarter ending in September, according to the preliminary report released by Cabinet Office.
Japanese stocks skidded on Monday, helping the yen rebound from a fresh seven-year low against the dollar touched after news Japan unexpectedly fell into recession in the third quarter.
In a paper “Global Prospects and Policy Challenges” published ahead of the G20 Summit to be held on 15-16 November, the International Monetary Fund said that growth indicators have weakened in Eurozone and Japan after the release of the October World Economic Outlook (WEO).
Japanese stocks scaled seven-year highs on Wednesday on growing expectations Prime Minister Shinzo Abe will postpone a planned sales tax hike to avoid damaging a fragile recovery, and call a snap election to bolster his political standing.
Japanese Prime Minister Shinzo Abe will postpone a planned tax increase and call a general election for December, a newspaper said on Wednesday, in what would be the biggest shift in Abe's economic policies since he came to power two years ago.
The global economy is growing at a slower rate, but is expected to gather momentum gradually if countries implement growth-supportive policies.
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