China’s service sector grew at a much slower-than-expected pace in October, a private survey showed on Friday, as a deepening slump in domestic demand largely offset some improvement in foreign orders.

U.S. worker productivity grew at its quickest pace in three years in the third quarter, depressing labor costs.

The number of Americans filing new claims for unemployment benefits increased moderately last week as the labor market continued to show few signs of a significant slowdown.

The US economy reported a 4.9% surge in the third quarter of 2023, driven by a doubled federal fiscal deficit due to a 19% decrease in personal income-tax collections. This reduction was influenced by adjustments in tax slabs and decreased capital gains taxes, acting as automatic stabilisers for the economy.

New orders for U.S.-made goods increased more than expected in September, boosted by strong demand for computers and electronic products among others, but higher borrowing costs remain a challenge for manufacturing.

Oil prices were little changed on Friday, heading for their second straight week of losses as the U.S. central bank left the door open for possible future rate hikes and worries that the Middle East conflict would disrupt supply eased.