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December 8, 2025
Euro traded at 1.1623 against USD at 9:00 AM PST
Germany's industrial production growth accelerated in October, strengthening hopes for an economic recovery. Industrial output logged a monthly growth of 1.8% in October after posting a 1.1% rise in September.
In the three months to October, industrial production was 1.5% lower than in the previous three months. Yearly, industrial production gained 0.8%, in contrast to the 1.4% decrease in September. Excluding energy and construction, industrial production grew 1.5% from September but was down 0.1% from the previous year.
Within the industry, capital goods and consumer goods output gained 2.1% each. Meanwhile, production of intermediate goods rose only 0.6%. The production of machinery and equipment, as well as computers, electronics, and optical products, made positive contributions to growth, while automobile production declined and had a negative impact.
Outside the industry, construction output increased by 3.3% and energy production rose by 1.4%. The second consecutive monthly increase suggests that industrial production has finally reached a period of bottoming out. Although it is not easy to solve the structural challenges, there are at least tentative signs of a bottoming out. Nonetheless, all signs are still very tentative and weak. 12/08/2025 - 05:00:00 (RTTNews)
China's exports rebounded in November on strong demand from the EU, and the trade surplus hit the $1 trillion mark in the year to November, despite falling demand from the U.S. Exports grew 5.9% year-on-year in November, reversing a 1.1% fall in October. Imports posted an annual growth of 1.9% after rising 1% in the previous month.
Consequently, the trade balance showed a surplus of around $111.7 billion in November. Shipments to the U.S. continued their downward trend with exports falling 28.6% from a year ago in November. Meanwhile, exports to the EU surged 14.8% and those to Japan rose 4.3%.
During January to November, overall exports were up 5.4%, while imports decreased 0.6%. As a result, the trade surplus increased by around 22% from last year to $1.08 trillion. External demand has been a key factor in China's likely reaching its growth target of "around 5%" in 2025. However, whether this resilience can last until 2026 will likely play a significant role in next year's outlook.
President Donald Trump and President Xi Jinping reached a trade truce in late October, ending tensions between the two largest economies that started in April. At the meeting in South Korea, China agreed to eliminate proposed export controls on rare earth elements and to open China's market to U.S. soybeans and other farm products. Beijing is working with Washington to crack down on fentanyl flows. 12/08/2025 - 02:20:00 (RTTNews)
Japan's GDP contracted a seasonally adjusted 0.6% during the third quarter of 2025. On an annualized basis, GDP declined 2.3%. Capital expenditure was down 0.2% in the quarter. External demand was down 0.2% in the quarter, and private consumption was up 0.2% in the quarter, while the GDP price index jumped 3.4% in the year. 12/07/2025 - 19:03:00 (RTTNews)
This market update is prepared by Cathay Bank for informational purposes only and does not constitute any form of legal, tax or investment advice, nor should it be considered an assurance or guarantee of future exchange rate movements or trends. This information is provided without regard to the specific objectives, financial situations or needs of any recipient. Cathay Bank does not make any representations or warranties about the accuracy, completeness or adequacy of this market update.
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