China non-manufacturing PMI 49.7 in October, below the 50 expected and down from prior 50.2.

Axios reports a U.S. Treasury analysis saying U.S. maritime blockade, economic sanctions and blocked land export routes have severely hit Iran’s economy. The rial has depreciated roughly 25% since August; an unofficial October rate fell to about 2.687 mln rials per $1, and September annual inflation rose to 90%. Iran has not loaded crude onto tankers since Aug. 25 and has sold oil stranded at sea, indicating constrained exports. Thousands of trucks are stalled at the Turkish border with delays up to 20 days; Iranian banks face additional restrictions in multiple countries and some states have suspended Iranian airline flights, further constraining trade and financial access. Treasury Secretary Bessent said the economic pressure is working and could further weaken regime stability and push concessions in negotiations, but the report does not judge the regime to be near collapse.

伊朗國家安全最高委員會祕書穆罕默德·雷扎伊在社交媒體上發文表示，最高領袖對文化、軍事、政治、經濟和社會等各類事務的全面掌握，以及他強有力和智慧的領導，關注解決人民問題，將是國家榮耀和敵人失敗的原因。