According to a joint forecast from J.D. Power and GlobalData, the automotive retail industry is witnessing a significant upswing in November, with total new-vehicle sales projected to hit 1,236,000 units, a 10.2% increase from the previous year. This rise includes a notable 13% boost in retail sales to 1,041,000 units. These results are projected to increase the seasonally adjusted annualized rate (SAAR) for total new-vehicle sales to 15.5 million units, up 1.4 million units from November 2022.
Global goods trade is recovering from a recent slump amid stronger demand for autos and electronics, the World Trade Organization said in a report that warned geopolitical strains are making the short-term outlook “highly uncertain.”
Thailand's exports in October rose at the fastest annual pace in more than a year but less than expected, and the commerce ministry said on Monday full-year exports would still show a small contraction.
Japan's business-to-business service inflation accelerated in October as a tight job market lifted labour costs, underscoring a broadening of price pressures that could heighten the chance of a near-term end to ultra-loose monetary policy.
Profits at China's industrial firms extended gains for a third month in October, albeit at a slower pace, suggesting more policy support from Beijing is needed to help shore up growth in the world's second-largest economy.
Asian stocks edged higher on Tuesday, while the dollar was at its lowest in three months as investors remained convinced the Federal Reserve was done with its rate-hike cycle and looked ahead to a crucial inflation report later this week.