1. Inflation in October fell more than expected. To be observed
Data from the US Department of Labor showed that the unseasonal adjustment of CPI in October increased by 7.7% year-on-year, with the previous value of 8.2%, and expected 7.9%; core CPI increased by 6.3% year-on-year, with the previous value of 6.6%, and expected 6.5%. The seasonally adjusted CPI in October increased by 0.4% month-on-month, with the previous value of 0.4%, and expected 0.6%; the core CPI increased by 0.3% month-on-month, with the previous value of 0.6%, and expected 0.5%. According to sub-items, the energy items rose 17.6% year-on-year, the food items rose 10.9% year-on-year, the transportation items rose 11.2% year-on-year, and the residential items rose 7.9% year-on-year.
2. EU Warning: 2022 winter Euro zone will fall into a technical recession. To be observed
European Commission 11 released the 2022 autumn economic forecast report on the 711th, and it is expected that the EU's real GDP (GDP) will grow by 3.3% in 2022, and the euro zone will grow by 3.2%; in 2023, the EU and Euro zone GDP will both grow by 0.3%. The European Commission warned on the same day that due to factors such as the energy crisis, the economy of the EU and the eurozone will shrink from the end of this year to the first quarter of next year, which is equivalent to a technical recession.
At the same time, the European Commission has significantly raised its forecast for inflation this year and next two years. The agency expects the annual inflation rate to reach 8.5% in 2022, nearly one percentage point higher than the previous forecast (7.6%); the annual inflation rate will still reach 6.1% in 2023, more than two percentage points higher than the previous forecast (4%). In addition, the euro zone unemployment rate will rise to 7.2% in 2023 and the EU will rise to 6.5%.
According to the agency, the euro zone expects that the economy of three countries will show negative growth in 2023: Germany -0.6%, Latvia -0.3%, Sweden -0.6%; it is expected that the growth rate of only four countries, namely Ireland , Malta , Romania and Bulgaria , Bulgaria , and Bulgaria , and the growth rate of the remaining countries will be more than 1%.
3. The 25th ASEAN and China-Japan-Korea Leaders' Meeting Positive
On the morning of November 12th local time, the 25th ASEAN and China-Japan-Korea (10+3) Leaders' Meeting was held in Phnom Penh, Cambodia. Chinese State Council Premier Li Keqiang, South Korean President Yoon Seo-yue , Japanese Prime Minister Kishida Fumio and leaders of ASEAN countries attended the event. Cambodian Prime Minister Hun Sen presided over the meeting. The leaders at the meeting said that China, Japan and South Korea are the main partners of ASEAN countries. 10+3 is the ballast of regional cooperation, and has achieved important cooperative results in promoting regional economic development, maintaining regional peace and stability, and cooperating with the epidemic. All parties should closely unite and deepen cooperation, strengthen cooperation in agriculture, connectivity, digital economy, financial security, public health, ecological environment, cultural exchanges, and sustainable development, jointly implement RCEP, maintain the security and stability of industrial chain supply chain, promote regional economic integration, respond to global challenges, promote greater results in 10+3 cooperation, and move towards the long-term goal of the East Asian Community. The meeting released the "10+3 Cooperation 25th Anniversary Document Collection".
4. Indonesia GDP grew strongly in the third quarter, positive
Indonesia Central Bureau of Statistics recently released data showing that driven by continued strong exports and improved investment, Indonesia's GDP grew by 5.72% year-on-year in the third quarter of this year, higher than market expectations and a 5.44% increase in the second quarter. Data shows that in the third quarter, residents' consumption, which accounts for more than half of Indonesia's GDP, increased by 5.39% year-on-year. Exports rose 21.64%.
5. Brazil's service industry continues to grow, with family services and transportation leading the rise. Positive
Data released by the Brazilian National Bureau of Geographical Statistics (IBGE) on the 11th local time showed that after seasonal adjustments, the output value of Brazil's service industry increased by 0.9% month-on-month in September this year, for five consecutive months. Compared with the same period last year, Brazil's service industry output value increased by 9.7% in September. Among them, the output value of the household service industry increased the highest, with a year-on-year increase of 17.8%. The output value of transportation and postal and telecommunications industries increased by 15.3% year-on-year.
6. One week's RMB trend
In the past week, the RMB exchange rate against the US dollar closed at 7.1106-7.2620, maintaining an overall appreciation.
(Information source: Wall Street Journal , Financial Times, Reuters , Dow Jones News Agency , Bloomberg, Wall Street News , Xinhua News Agency , China Securities Journal, Economic Observer, Ministry of Commerce, World Trade Organization , etc.)
