German producer prices fell more than expected in July, marking their first decline in over two-and-a-half years, as easing energy prices raised hopes for a further decrease in inflation in Europe's largest economy.
Japan's exports fell in July for the first time in nearly 2-1/2 years, driven by weak demand for light oil and chip-making equipment and raising concerns about a global recession as the demand in key markets such as China weakens.
German business morale deteriorated more than expected in August, falling for the fourth consecutive month as weak new orders and declining export expectations contribute to pessimism about the economy's recovery.
Profits at China's industrial firms fell 6.7% in July, marking the seventh consecutive month of decline, as weak demand continues to hinder the country's post-pandemic recovery.
South Korea's exports are expected to have fallen 11.6% in August, marking the 11th consecutive month of decline, as China's economic recovery remains sluggish and demand weakens in other regions.
Japan's factory output fell more than expected in July, indicating a challenging start to the second half of the year for manufacturers amid concerns about China's growth and the global economy. Output declined 2.0% in July from the previous month, driven by decreased domestic and overseas orders, particularly in the electronic parts and production machinery sectors. However, car production rose 0.6% due to improved supply chain conditions.
Investor morale in the euro zone fell more than expected due to Germany's economic weakness, with the situation being described as "precarious" and potentially leading to a global recession.
German industrial orders fell more than expected in July, declining by 11.7% on a seasonally and calendar adjusted basis, due to a large order in the aerospace sector the previous month, indicating weakness in the global economy and high energy costs.
China's imports and exports experienced a monthly decline in August, with exports falling by 8.8% and imports falling by 7.3%, indicating ongoing challenges despite some slight improvement.
European stock markets weakened on Thursday due to signs of slowing growth in Europe and China, as well as concerns about future Federal Reserve tightening. German industrial production fell more than expected, adding to the struggles of the eurozone's largest economy. China's exports and imports also fell in August, indicating continued pressure on its manufacturing sector. Additionally, stronger-than-expected US inflation data raised concerns about sticky inflation. Oil prices fell as signs of slowing Chinese growth overshadowed a draw in US inventories.
India's merchandise exports dropped by 6.9% in August, marking the seventh consecutive month of decline, due to weak external demand, while the merchandise trade deficit reached a 10-month high of $24.16 billion driven by higher crude oil prices and robust domestic demand.
Singapore's annual exports fell for the 11th consecutive month in August, declining by 20.1% as the trade-dependent economy struggles with global headwinds and declining demand, indicating that export stabilization is not yet within reach.