exports

East Asia Economic Outlook: BOK Holds Rates, Industrial Growth Continues, CPI and GDP Updates

The Bank of Korea is expected to hold the rates steady. Meanwhile, data highlights include Chinese industrial profits, Tokyo inflation, Korean and Taiwanese industrial production and Indian GDP

Philippines Q3 GDP Slows Sharply as Investment and Consumption Weaken

Third-quarter GDP growth disappointed at 4.0% YoY, dragged down by weak investment and softer government spending, while exports provided temporary support. We downgrade our 2025 growth forecast to 4.7% (from 5.2%) as sentiment weakens and tariff headwinds loom, reinforcing our call for a 25bp central bank rate cut in December

German Exports Rebound in September but Structural Headwinds Persist

Today's data is more evidence of the small rebound of the German economy after the summer. However, the September increase in exports is too weak to dispel concerns about persistent structural weakness

Spain’s Growth Cools but Remains Resilient Amid Broader European Slowdown

Spain’s economy grew by 0.6% over the third quarter, following a robust second quarter, as external demand weakened. With signs of cooling in industrial activity and tourism, growth is expected to normalise over the coming quarters and into 2026

South Korea’s Growth Driven by Consumption and IT Investment, While Housing Market Limits Policy Easing

South Korean growth beat expectations amid robust domestic demand, boosted by cash handouts and strong asset markets. Yet a slowdown is expected in the fourth quarter as government support wanes and export challenges abound

Asia Weekly Outlook: China’s 15th Five-Year Plan in Focus as Growth Slows; BoK and BoJ Policy Signals Ahead

China's discussion of its 15th Five-Year Plan will be a major focus, along with GDP and property price data and a loan-prime-rate decision. The Bank of Korea is expected to leave rates unchanged, while markets will get key data from Japan and Taiwan

Dutch Economy: Fragile Confidence and Modest Growth Ahead

Sentiment in Dutch commercial services and retail cooled in September, according to fresh data from the European Commission. While the mood isn’t gloomy, it does echo our view that growth remains stuck below potential – for now

SNB Holds Rates at Zero as Strong US GDP Data Drives USD/CHF Higher

The Swiss franc is sharply lower on Thursday. In the North American session, USD/CHF is trading at 0.8013, up 0.78% on the day.

SNB holds rates, warns about US tariffs

Germany’s Ifo Slump: Optimism Fades as Fiscal Stimulus Meets Political Gridlock

Even without ground control calling, German optimism has been brought down by a mix of US tariffs, a stronger euro and the political inability to combine fiscal stimulus with growth-enhancing reforms

Eurozone Exports Weaken as US Tariffs Bite and Global Demand Softens

The eurozone's trade balance edged up slightly in July, driven mainly by a drop in imports, while exports also declined modestly. Excluding the energy crisis period, this marks one of the smallest trade surpluses in the past decade

Germany’s Ifo Index Rises, but Fiscal Stimulus Remains the Key to Recovery

The ongoing improvement in business sentiment reflects the strong belief in the healing nature of fiscal stimulus

Germany Back in the Danger Zone: Growth Stalls Amid Tariffs and Stagnation

A full reversal of previous US front-loading effects has pushed the German economy back into recessionary territory, and it looks increasingly unlikely that any substantial recovery will materialise before 2026

Asia’s Balancing Act: Rising Prices, Fragile Output, and Trade Rebounds

Asia week ahead: data to show uptick in inflation in South Korea and Indonesia. CPI data will be released in Indonesia, the Philippines, and South Korea next week. A rise in inflation is expected, driven by higher oil prices. Elsewhere, China is set to release its PMI and new export orders, while Japan will publish the Tankan survey and industrial production data

Tesla's China-made EV sales fall to lowest since August 2022

Tesla's sales of its China-made electric vehicles dropped 49.2% in February from a year earlier to 30,688 cars, the lowest since August 2022, as the U.S. automaker faces pressure from Chinese rivals in a relentless smart EV price war.

China hits US agriculture, says it won't be bullied by fresh Trump tariffs

China retaliated swiftly against fresh U.S. tariffs with hikes to import levies covering $21 billion worth of American agricultural and food products, moving the world's top two economies a step closer towards an all-out trade war.