Publish Time: 2022-11-02 Origin: Site
1. The eurozone economy grew by 0.2% and inflation hit another record high
Recently, Eurostat announced that the third quarter gross domestic product (GDP) of both the euro area and the European Union increased by 0.2% quarter-on-quarter; Energy and food prices continued to soar in the eurozone, with inflation hitting a record high of 10.7% on an annualised basis in October, beating market expectations.
2. The Reserve Bank of Australia raised interest rates by 25 basis points
The Federal Reserve Bank of Australia raised interest rates by 25 basis points to 2.85 percent on Monday, the highest level since April 2013. The RBA said the committee was determined to return inflation to target and expected further rate rises in the period ahead.
3.IMF: Only the Middle East and Central Asia will continue to recover
Some crude exporters in the Middle East and Central Asia, benefiting from excess profits from the oil sector, remain resilient and will continue to recover in 2022 amid growing global headwinds, the International Monetary Fund said.
4. South Korea's exports fell and the trade deficit for the seventh month in a row
According to the Ministry of Trade, Industry and Energy (MOCIE), Korea s exports in October fell 5.7 percent year-on-year to 52.48 billion dollars, while imports rose 9.9 percent year-on-year to 59.18 billion dollars. The trade balance posted a deficit of 6.7 billion dollars for the seventh consecutive month since April this year.
5. Saudi Arabia's economy grew 8.6% in the third quarter from a year earlier
Saudi Arabia's General Statistics Office recently released data showing that real gross domestic product in the third quarter of 2022 grew 8.6 percent from the same period last year. The kingdom's GDP growth was boosted by a 14.5 percent increase in oil activity in the third quarter of this year compared to the third quarter of 2021.
Ecommerce sales in Brazil will reach $211bn
6. Recently, a survey by US Market Intelligence showed that Brazil's e-commerce sales will reach $211 billion in 2022, and the next four years, Brazil's e-commerce sales will grow at an annual rate of 20%, to reach $432 billion by 2026.
7.Shopify beat expectations with 22% year-over-year growth
Canadian e-commerce platform Shopify recently reported its Q3 2022 financial results. Total revenue for the third quarter was $1.366 billion, up 22 percent from a year earlier. By business, subscription solutions revenue was $376 million, up 12% year-over-year; Merchant solutions revenue was $990 million, up 26% year-over-year.