South Korea's exports grew at a faster annual pace in July as robust demand from the United States offset weak sales to China, though the trade and broad economic outlook was clouded by slowing global growth amid rapidly rising borrowing costs.

Asia's factories struggled for momentum in July as China's strict COVID restrictions and flagging global demand slowed production, although early signs red-hot inflation may be peaking provided some optimism for firms squeezed by prices.

The British public's expectations for inflation fell again in July, a survey showed on Monday, potentially adding to the case for the Bank of England (BoE) to increase interest rates by only a quarter percentage point later this week.

Indonesia's inflation accelerated to its highest in seven years, above the central bank's target range, while core inflation remained within target, official data showed on Monday, triggering calls for an interest rate hike.

China's wobbly economy stumbled further at the start of the second half of the year, with factories unexpectedly switching back to the slow lane, a slump in the property sector deepening and job cuts still a widespread menace.

China will use effective investment to help the economy recover and will not resort to flood-like stimulus, state media said on Friday, following a cabinet meeting chaired by Premier Li Keqiang.