Weak global demand, especially in the advanced economies, is dampening world trade and production. The USA is experiencing a decline in equipment investment and exports. Japan's industry is under pressure from chilled diplomatic relations with China. In China, economic activity continues to slow. Production in the EU has not declined further of late; the situation has stabilised for the time being notably in the crisis countries on the euro area periphery. Unemployment remains extremely high in many countries. Refinancing conditions of the euro countries have eased further, but the capital outflow to third countries has not been halted yet. Austrian companies expect production to stagnate and employment to decline. The labour market has cooled recently. Inflation rose noticeably in September.