- UK house prices have finally ended their six-month losing streak, according to Halifax. However, the increase in prices is not necessarily a sign of a genuine recovery, but rather a result of a shortage of properties on the market.
- The International Monetary Fund (IMF) has upgraded its forecast for China’s economic growth in 2023 and 2024, citing improved prospects for global trade. This suggests that China’s economy may be performing better than previously expected.
- China’s imports unexpectedly grew in October, suggesting that demand may be making a cautious comeback in the world’s second-largest economy. This is a positive sign for China’s economy.
- US Treasury Sec. Yellen to meet Chinese counterpart He Lifeng this week, aiming to restore normal communications. Talks will address Beijing’s unfair economic practices and explore cooperation on issues like illicit finance and climate change, ahead of Biden-Xi meeting.
- German industrial output fell more than expected in September, adding to concerns about the health of Europe’s largest economy. This suggests that Germany’s economy may be struggling.
- Japan’s wages and consumer spending continued to decline in October, posing a challenge for the Bank of Japan’s (BOJ) policy aimed at stimulating the economy. This suggests that Japan’s economy may still be struggling.
- Minneapolis Federal Reserve Bank President Neel Kashkari has said that the US central bank has more work to do to control inflation, which is running at a 30-year high. This suggests that the US Federal Reserve may need to take further action to combat inflation.
- Concerns about a recession in the euro zone have intensified, with Germany’s economy shrinking more than expected in the third quarter. This suggests that the euro zone may be at risk of entering a recession.