Cranes at the Hanjin Shipping container terminal at Incheon New Port in Incheon, South Korea. Reuters
Taiwan’s export orders contracted for an eighth straight month in June, with global companies increasingly hesitant to make new investments in machinery as the China-US trade war wears on.
Japan’s exports likely fell for an eighth straight month in July, a Reuters poll showed on Friday, as a protracted US-China trade war and weak global demand hurt shipments from the world’s third-largest economy.
China’s exports unexpectedly returned to growth in July on improved global demand despite escalating US trade pressure, but the rebound may be short-lived as Washington prepares to slap even more tariffs on Chinese goods.
The US economy grew at a record pace in the third quarter as the government injected more than $3 trillion worth of pandemic relief which fueled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal.
Aircraft manufacturers are hit by the devastating impact of the coronavirus pandemic on the aviation industry. The number of global commercial aircraft orders was zero during the month of September.
Peugeot manufacturer PSA Group returned to revenue growth in its core autos division in the third quarter, recovering from a slump during coronavirus lockdowns, though the prospect of new restrictions hit French shares.
The Bank of Japan (BOJ) trimmed its economic growth and inflation forecasts for the current fiscal year (2020-21) on Thursday but offered a more upbeat view on the recovery outlook, signalling that it has delivered enough stimulus for the time being.