Confidence among big Japanese manufacturers improved for the second straight quarter and firms maintained their upbeat spending plans, a central bank survey showed, heightening the chance of an interest rate hike as soon as this month.
Shares were mixed in Asia on Wednesday, with Chinese markets closed for a weeklong holiday, as a U.S. government shutdown loomed.
Factory activity shrank in most of Asia's major economies in September, private surveys showed on Wednesday, as signs of a slowdown in US growth and the expected impact of President Donald Trump's tariffs added to pressure from weak Chinese demand.
Oil prices steadied on Wednesday after two days of declines as investors weighed OPEC+ plans for a larger output hike next month and the outcome of a U.S. government shutdown that could impact economic activity and fuel demand.
Cox Automotive expects U.S. auto sales to drop by low single-digit percentages in late 2025 and into 2026, mainly driven by price increases, driven in turn by new tariffs on auto imports and metals – an outcome Jonathan Smoke, chief economist for Cox Automotive, describes as “not so bad,” considering the circumstances.
September 2025 US auto sales are projected to reach 1.23 million units, according to S&P Global Mobility. This would translate to an estimated sales pace of 16.2 million units (seasonally adjusted annual rate: SAAR), aligned with the 16.1-million-unit pace in August and reflective of the sales bounce realized over the third quarter.