Economy news.

South Korea’s economy grows 1.0% in third quarter as chip exports surge

South Korea's GDP climbed 1.0% quarter-on-quarter in Q3, topping the 0.7% consensus call, as a boom in semiconductor shipments and factory investment offset household spending's first pullback in close to four years.

China’s factory earnings surge 14.4% in September after August dip

Large Chinese industrial companies saw profits climb 14.4% from a year earlier in September, a sharp turnaround from August's 4.2% gain, official figures show. The data carry implications for Chinese stocks and commodity-tied currencies.

TD Securities sees core PCE at 3.1%, GDP growth at 2.5% for Q3

TD Securities forecasts September core PCE inflation at 3.1% year-on-year and Q3 US GDP growth at 2.5% annualized, pointing to persistent price pressure alongside still-solid economic activity.

German Ifo index climbs to 90.2 in October, topping forecasts

The Ifo Institute's Business Climate Index for Germany rose to 90.2 in October from 89.9 in September, beating expectations for a slight dip. The euro firmed modestly against the US dollar on the release.

Lula’s re-election win triggers Brazilian real, stock selloff fears

Brazilian President Luiz Inácio Lula da Silva's unexpected victory over Flavio Bolsonaro wrong-footed markets that had bet on a fiscally tighter opposition government, sending early indicators of Brazilian assets sharply lower in Asian trading.

US consumer sentiment edges down to 48.0, near May record low

The University of Michigan's Consumer Sentiment Index slipped to 48.0 in October from 48.1 in September, above the 46.3 consensus from Reuters, as households continue to worry about prices.

India’s private sector growth hits four-month peak at 56.7

India's HSBC Flash Composite PMI climbed to 56.7 in October, up from 55.9 the prior month, marking its best level in four months as services expansion offset softer factory hiring.

US services activity cools to 57.9 in October, just shy of forecasts

S&P Global's flash services gauge dipped to 57.9 in October from 59.8, narrowly below the 58.0 estimate, while the manufacturing reading topped expectations at 56.0.

UK private sector growth hits eight-month high as PMI tops 53

Britain's private sector expanded at its quickest pace since February, as the S&P Global Composite PMI reading for October climbed to 53.1, topping both September's 52 and the 51.8 consensus call. The figure carries weight for GBP/USD positioning.

Eurozone PMI cools to 51.9 in October, below forecasts

Eurozone business activity expanded at its slowest pace in four months in October, with the flash composite PMI falling to 51.9 from 53.1, missing expectations and complicating the ECB's rate path.

US October PMIs seen easing slightly but staying in growth territory

S&P Global's preliminary US October Manufacturing, Services and Composite PMIs are due Friday at 13:45 GMT, with forecasts pointing to a mild slowdown from September's strong readings. The data land days ahead of the Fed's October 28 meeting and could move EUR/USD and the US Dollar.

Japan’s core consumer prices climb 2.1% in September, topping BoJ goal

Japan's core CPI advanced 2.1% from a year earlier in September, up from August's 1.7% pace and surpassing the Bank of Japan's 2% objective, intensifying speculation about additional borrowing-cost increases.

UK retail sales drop 0.4% in September, well below forecasts

UK retail sales fell 0.4% month-on-month in September, missing expectations for a 0.1% decline, after a revised 0.7% rise in August, the Office for National Statistics (ONS) reported. GBP/USD edged lower on the data.

US weekly jobless claims fall to 194,000, below forecasts

New US unemployment benefit applications dropped to 194,000 in the week ending October 17, below the 200,000 expected and down from the prior week's revised 200,000, the Department of Labor reported Thursday.