Lowe Leaves Us Guessing, China’s Weak Third Quarter: Eco Day

(Bloomberg) -- Welcome to Wednesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your week started:

  • China’s economy in the third quarter was the weakest it has been this year, according to the China Beige Book
  • RBA chief Philip Lowe last night said Australia’s economy is at a “gentle turning point” and reiterated he’s prepared to cut interest rates if needed to support the recovery, while stopping short of flagging the imminent move markets and some economists were factoring in for next week
  • Central banks in the Philippines and Thailand will grapple with mounting global risks when they decide interest rates this week, keen to bolster their economies against slower growth
  • Incoming European Central Bank President Christine Lagarde said the global economy is likely to dodge an outright contraction, though trade tensions remain the top threat to the growth outlook
  • U.S. consumer confidence posted the biggest drop since the start of the year as Americans’ expectations for the economy and the job market deteriorated
  • The International Monetary Fund reversed its prediction for an economic contraction in Turkey this year but called into question its efforts to rev up growth

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