A survey by Bank of Communications Ltd, one of the major state-owned banks in China, revealed that Chinese households expect the next six months to show a reduction on their income. Questions around employment prospects and unemployment rate were responded negatively by more than half of the participants. Willingness to invest in China has declined as the effects of an economic slowdown start to trickle down.
The Japanese goverment downgraded its assessment of the economy as manufacturing fell due to the global downturn. The territorial dispute with China continued to hurt sales of exports with no end in sight to the boycott of Japanese products.
- Singapore Economy Avoids a Technical Recession
- Australia Employment Change (Oct): Reaction
- MAS Maintains Monetary Policy for SGD – Reaction
- Bank of Korea slash 2012 and 2013 growth forecast
- Singapore Dollars could face easing measures on 12th Oct
- Easing policies in Asia anticipated by Fund Managers in Q4
- China port shipments points to strong Christmas season
- Australia Banks not passing full RBA rate cuts to consumers
- Japan and China Aim to Reduce Tensions with Talks
- Despite the Economy Shrinking, Singapore Refrains From Monetary Easing
- China, Malaysia and Thailand’s currencies undervalued – IMF Report
- World Bank: A Risk that the Slowdown in China could get Worse and Last Longer than Expected.
- The Threat to Australia’s 21 Successive Years of Recession Free Growth
WEEK AHEAD
- ALL IMF – World Bank Annual Meetings
- CNY Consumer Price Index
- USD Advance Retail Sales
- NZD Consumer Prices Index
- AUD Reserve Bank Board – October Minutes
- GBP Core Consumer Price Index
- EUR Euro-Zone ZEW Survey
- EUR Euro-Zone Consumer Price Index
- USD Consumer Price Index
- GBP Bank of England Minutes
- GBP Jobless Claims Change
- EUR German Producer Prices
- CAD Consumer Price Index
