Saudi Arabia's seasonally adjusted real gross domestic product dropped 4.8% on a quarterly basis in the second quarter, compared with the revised 1.4% decline in the prior three-month period, final data from the General Authority for Statistics showed Tuesday.
The initial estimate was for a 4.9% decrease in Saudi quarterly GDP.
Annually, the country's real GDP decreased 4.7% during the three-month period, against the preliminary reading of a 4.8% fall and a 3% expansion in the previous quarter.
Retail sales in the UK rose 0.5% year over year on a like-for-like basis in August, following a 1% increase in July, according to data from the British Retail Consortium published Tuesday.The reading missed the expected 1.2% gain for the month and corresponds to the softest rise since October 2024.BRC attributed the weaker growth to rising household costs and easing consumer demand, with spending mostly restricted to food, drink, health and beauty sales.
China's trade surplus expanded to $119.09 billion in August from $112.50 billion in July, according to data from the General Administration of Customs released Tuesday.The reading was higher than the consensus forecast of $118.60 billion tracked by Investing.com.Exports rose 25% year over year to $401.4 billion, in line with the consensus forecast for a 25% increase, and accelerating from the 23.9% growth in July.Imports increased 28.2% to $282.36 billion, sharper than the 27.5% expansion in July. The consensus forecast was for a 30% rise.
Chinese stocks opened higher Tuesday, buoyed by recent state-backed financial support measures and ahead of August inflation and trade data.The Shanghai Composite Index, the main gauge of Chinese stocks, climbed 0.3% to 3,935.55. The Shenzhen Component Index ticked up 0.1% to 13,782.86.The Ministry of Finance plans to issue 300 billion yuan in special treasury bonds to recapitalize state-owned financial firms, while eight major state banks announced a combined 360 billion-yuan capital boost.China is set to publish its trade data late Tuesday morning, with analysts expecting the August trade surplus to have widened to $119.1 billion from $112.5 billion the previous month, according to Trading Economics.On Thursday, China will post inflation and producer data, with analysts expecting headline inflation to have accelerated to 0.8% in August from 0.5% in July.