China’s retail sales grew at the weakest pace since the crash caused by Covid while investment slumped further, underlining growing risks to the economy after several months of deterioration.
China’s new restrictions on car discounts signal the government is cranking up its scrutiny of excessive competition in the local auto industry after previous attempts failed to stem falling vehicle prices.
Malaysia’s recent industrial output data underscores the economy’s resilience, which will continue to position it well to buffer external headwinds, according to Hong Leong Investment Bank.
The U.S. trade deficit unexpectedly narrowed in September, touching the lowest level in more than five years, as exports accelerated and imports rose marginally, suggesting that trade likely provided a boost to economic growth in the third quarter.
The number of Americans filing new applications for unemployment benefits increased by the most in nearly 4-1/2 years last week, but the surge likely does not suggest a material weakening in labor market conditions, as the claims data are volatile around this time of year.
Oil prices rose on Friday supported by concerns of Venezuelan supply disruptions, though they remained on track for a weekly drop amid cautious market sentiment and optimism over the prospects for a Russia-Ukraine peace deal.