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.
Hong Kong's exports continue to decline for the 15th consecutive month, with a 9% decrease in July, due to trade contraction with mainland China, the US, and Europe, affecting the city's economic recovery and prompting a downgrade in GDP forecast.
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.
Consumer prices in Korea are expected to increase to the 3 percent range in the coming months due to a rise in international oil prices, but are projected to fall back to the 2 percent range in October.
Vietnam's exports have declined for the sixth consecutive month due to weaker global demand and China's deteriorating economic outlook, posing a risk to the country's GDP growth target.
German exports fell 0.9% in July, less than expected, due to global demand weakness and supply-chain friction.
China's exports are expected to contract at a slower pace in August, with a projected fall of 9.2%, as manufacturers continue to face pressure due to weak overseas demand and a shrinking labor market.
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.
China's total import and export value in the first 8 months of this year slightly decreased by 0.1 percent compared to the previous year, but exports have continued to grow and the global market share remains stable, highlighting the overall stability of China's foreign trade operations.
Summary: South Korea's unemployment rate in August reached a record low of 2%, the lowest level since June 1999, while Japan's corporate confidence fell in September, according to the Reuters Tankan poll.
Big Japanese manufacturers and the services sector in Japan are experiencing a decline in confidence, with concerns of a slowdown in China's economy affecting global and domestic growth, according to a Reuters poll. The weak sentiment in the business sector raises doubts about the ability of exports to drive economic recovery amid weak domestic demand. Many companies cited high input costs and weak demand as contributing factors, along with geopolitical risks and tensions between the US and China.
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.
Japan's exports to China declined for the ninth consecutive month in August, dropping 11%, due to weak demand and the suspension of seafood imports following the Fukushima Daiichi nuclear plant incident.
