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November 29, 2022 Today’s Economic and Trade Consulting

2022-11-29
  1. U.S business activity shrinks for fifth month in a row, weak demand

Recently, according to Bloomberg, due to weak demand, US business activity contracted for the fifth consecutive month in November. The valuation of the S&P Global Composite Purchasing Managers Index slipped to 46.3 in November, below 50, indicating a contraction in business activity.
 
  1. Central banks around the world buy gold, and net purchases soar fourfold

According to an international survey agency, gold purchases in 2022 will hit the highest level since the 1960s. According to a report released by the World Gold Council in November, the net purchase of gold by global central banks in the third quarter of this year was 399.3 tons, more than four times that of the same period last year.
 
  1. New Zealand trade deficit widens to record in October

A few days ago, Statistics New Zealand released data that the trade deficit widened to a record level in October, and the trade gap widened to NZ$12.9 billion (US$8 billion). Imports rose 25 per cent to NZ$84 billion from a year earlier, while exports rose 15 percent to NZ$71.1 billion.
 
  1. The People's Bank of China decided to lower the deposit reserve ratio of financial institutions on December 5, 2022

In order to maintain reasonable and sufficient liquidity, promote a steady decline in comprehensive financing costs, implement policies and measures to stabilize the economy, and consolidate the foundation for economic recovery, the People's Bank of China decided to reduce the deposit reserve ratio of financial institutions by 0.25 percentage points on December 5, 2022. After this reduction, the weighted average deposit reserve ratio of financial institutions is about 7.8%.

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