Brent crude rose back above $100 a barrel after Chinese refiners suspended fuel exports, while the US 10-year Treasury yield reached 5.34%, its highest since 2002, and US factories reported the sharpest jump in input prices in months. Spain cut fuel taxes by 20 cents a litre from today, and South Korea posted record monthly exports on AI chip demand.
Spain
Fuel tax cut of 20 cents a litre takes effect. From October 1, the government has lowered the special tax on hydrocarbons so that petrol and diesel cost up to 20 cents less per litre, a discount set to shrink to 13 cents in November and 6 cents in December unless prices keep surging. The aid is triggered because diesel and petrol prices were up by more than 15% on a year earlier, with diesel close to €2 a litre; it eases costs for drivers and hauliers but reduces tax revenue. (Infobae, Motor.es)
New rental rules published; Congress votes Friday. The official gazette (BOE) published the government’s second housing decree on October 1: leases extend automatically unless the landlord gives notice, and a landlord who ends a contract for reasons other than personal use or sale must compensate the tenant with the equivalent of twelve months’ rent for a similar home. Congress will debate both housing decrees on Friday, and they need its approval to remain in force; landlord groups warn the rules could shrink rental supply. (VilaWeb, Catalunya Press)
Catalonia
Catalonia targets 19,000 regular exporters by 2030. The Catalan government has approved an internationalisation strategy for 2026–2030 with 10 lines of action and 27 initiatives, aiming to add 2,000 new exporting companies, reach 3,500 firms with subsidiaries abroad and have exporters selling to five countries on average. The business agency ACCIÓ will also open an office in New Delhi before the end of 2026; spreading sales across more markets is meant to make Catalan firms less vulnerable to tariffs and slowdowns in any single trading partner. (Generalitat de Catalunya)
Signed rental contracts at lowest level since 2009. Figures based on rental deposits lodged with the Catalan land institute Incasòl show 108,057 new rental contracts in 2025, down 36% from 167,842 in 2021 and about 19% lower than in 2023, before rent caps in high-demand areas took effect. Fewer contracts mean fewer homes changing hands on the rental market, which makes it harder for newcomers and young people to find a flat, as Spain’s new rental decree adds further rules. (El Nacional)
France
2027 budget unveiled with €54 billion of savings. The government presented its 2027 budget on Thursday, aiming to cut the deficit from 5.4% of GDP this year to 5.0% next year through a public-sector pay freeze, limited pension increases except for the lowest pensions, and targeted tax changes. The plan arrives as France’s 10-year borrowing costs stand at their highest since 2008 and public debt near 119% of GDP; adoption is uncertain because the government lacks a stable majority in parliament. (Reuters)
United Kingdom
Energy price cap rises 4% from today. Ofgem’s cap for a typical dual-fuel household paying by direct debit goes up by about £60 to £1,723 a year for October to December, driven by higher wholesale gas prices linked to the Middle East conflict. The cap limits unit rates and standing charges rather than total bills, so households that use more energy as the heating season starts will pay more. (PA / Yahoo Finance)
House price growth halves to 0.8%. Nationwide said prices fell 0.2% in September, bringing annual growth down from 1.6% to 0.8%, the weakest since December 2025, with the average home at £274,251. The building society blamed Middle East tensions that have raised inflation worries and pushed up mortgage rates, though it noted that prices rising more slowly than wages gradually improves affordability for buyers. (PA)
Germany
Factory upturn holds firm despite rising costs. Germany’s manufacturing PMI came in at 53.9 in September, slightly down from 54.3 in August but above the flash estimate, with output rising for a ninth month and export orders returning from Asia, Europe and the US. Input price inflation, however, hit its highest since June, which could eventually feed through to the prices of goods. (Reuters)
Unemployment rises far more than expected. The number of people out of work rose by 12,000 in September in seasonally adjusted terms, against a forecast increase of just 1,000, taking the total to 3.01 million while the jobless rate held at 6.4%. Labour office head Andrea Nahles said “the economic improvement is not yet reaching the labour market”, a sign that job security remains a concern for German households. (Reuters)
Italy
Meloni to seek extra EU budget leeway to fight energy costs. Prime Minister Giorgia Meloni said she will write to European Commission President Ursula von der Leyen asking for EU fiscal rules to take account of the inflation shock, after EU-harmonised inflation jumped to 4.1% in September. Italy plans to spend €14 billion over two years to lower energy costs for businesses using the EU’s national escape clause, and wants more room on top of that. (Reuters)
Manufacturing edges back into growth. Italy’s manufacturing PMI rose to 50.4 in September from 49.6, just above the 50 mark, but output and new orders still fell amid weak demand at home and abroad. Input costs rose at the fastest pace of the quarter as energy, fuel and transport became more expensive. (Investing.com)
Portugal
Unemployment steady at 5.7%, below last year. INE’s provisional estimate put the unemployment rate at 5.7% in August, the same as in July and down from 5.9% a year earlier, with employment up 0.9% year on year to 5.32 million people. Youth unemployment, however, remains high at 19.8%. (Observador)
United States
Factory input prices surge as activity holds steady. The ISM manufacturing index edged down to 54.5 in September from 54.6, slightly below the 55 expected but still signalling solid growth, helped by AI-related investment and restocking. The prices-paid gauge jumped to 77.9 from 71.1 and supplier deliveries slowed, a sign that higher energy and material costs could keep pushing up goods prices for consumers. (Reuters, Yahoo Finance)
10-year yield hits highest since 2002; layoffs stay low. The benchmark 10-year Treasury yield touched 5.34% on Thursday before easing to around 5.32%, extending a selloff that made the past quarter one of the worst for bonds in decades; the Dow slipped while the S&P 500 and Nasdaq were roughly flat. Weekly jobless claims fell to 197,000, the lowest since July, showing a still-tight labour market that, together with inflation worries, keeps borrowing costs for mortgages and loans high. (Yahoo Finance, Bloomberg)
Canada
Factory activity slows to a six-month low. The S&P Global Canada manufacturing PMI fell to 51.5 in September from 53.0, as new orders slipped below the 50 line for the first time since March and business confidence weakened. Input costs rose at the fastest pace since July 2022, pushed by energy prices and new US tariffs on some Canadian goods after trade talks broke down. (Reuters, investingLive)
TD Bank plans a buyback of up to C$10 billion. Toronto-Dominion Bank said it intends to repurchase up to 61 million of its shares, about 3.74% of the total, subject to approval by the banking regulator OSFI, with completion expected by July 2027. It follows a C$7 billion programme completed in September; buybacks return capital to shareholders and lift earnings per share. (BNN Bloomberg)
Mexico
Tax revenue falls short as income tax keeps shrinking. Finance Ministry data show public revenue grew 1.3% in real terms in January–August but came in about 201 billion pesos below budget, with income tax receipts down 5.6% while VAT rose 11.4%. The government reported a deficit of about 739 billion pesos for the period, smaller than programmed because spending also ran below plan. (Forbes México)
Brazil
Industry shrinks for a fifth month as PMI drops to 44.8. S&P Global’s manufacturing PMI for Brazil fell to 44.8 in September from 46.3, with output and new orders falling faster amid weak demand, strong competition and uncertainty ahead of the presidential election. Costs for imported materials and freight rose, but firms struggled to pass them on to customers, squeezing margins and prompting companies to cut purchases and stocks. (InfoMoney, CNN Brasil)
Public debt climbs to 82.9% of GDP, a five-year high. Central bank data showed gross government debt rising from 82.6% of GDP in July, as the public sector ran a primary deficit of about R$10 billion in August. Interest costs over the past 12 months reached R$1.18 trillion, or 8.86% of GDP, reflecting high interest rates that make the debt more expensive to carry. (O Tempo)
Argentina
Country risk jumps to 635 points as stocks slide. Argentina’s country-risk spread rose 29 points to about 635 basis points on Thursday and the S&P Merval fell about 2.4%, with some bank and telecom shares listed in New York down nearly 5%. Analysts blamed rising US Treasury yields, which make emerging-market debt less attractive, along with doubts about the local economy; a higher spread makes it costlier for the government and companies to borrow abroad. (Infobae, El Economista)
Fuel tax increase postponed again, to November. A decree signed on September 30 delays the pending update of taxes on liquid fuels and carbon dioxide until November 1, so that tax component of pump prices stays unchanged throughout October. The government said the move aims to keep supporting growth; the postponement spares drivers an extra price rise at a time of high global oil prices. (Perfil)
Morocco
Economic growth slows to 4% in the second quarter. The planning agency HCP said GDP grew 4% year on year in April–June, down from 5.8% a year earlier, as a strong farm harvest offset a marked slowdown in non-farm activity. Inflation remained very low, which helps household purchasing power, but the economy’s external financing need widened. (Médias24)
Egypt
No major verified economic story in the last 24 hours.
Nigeria
Tinubu pledges to cut living costs in Independence Day address. Marking 66 years of independence, President Bola Tinubu said the economy had grown by more than 4% this year and that non-oil exports exceeded $6 billion in 2025, a record. He said the next phase of reforms would focus on lowering the cost of living by reducing the cost of producing and transporting goods, though he did not detail new measures. (The Guardian Nigeria)
South Africa
Producer inflation cools to 5.0%. Factory-gate inflation slowed to 5.0% in August from 5.7% in July, below the 5.5% economists expected, as producer food prices fell on a strong harvest. Fuel remained the biggest source of cost pressure, and higher pump prices could feed back into food prices because most staples travel by road. (IOL)
China
Refiners suspend fuel exports to protect home supplies. Chinese refiners have halted October shipments of gasoline and jet fuel to destinations other than Hong Kong and Macau until further notice, and PetroChina cancelled most of its planned October cargoes, according to industry sources. The move, during the Golden Week holiday, aims to safeguard domestic supply but tightens fuel availability across Asia and helped push oil prices higher. (Reuters / Business Recorder)
Private survey shows factory growth speeding up. The RatingDog/S&P Global manufacturing PMI rose to 52.1 in September from 51.5, beating the 51.6 forecast, and the services index improved to 51.6. Together with the official PMI’s return above 50, the data suggest a firmer end to the quarter for the world’s second-largest economy. (FXStreet)
Japan
Big manufacturers more confident in BOJ tankan. The Bank of Japan’s quarterly survey showed the sentiment index for large manufacturers rising to +24 from +22 in June, slightly below the +25 forecast, while large non-manufacturers slipped to +35 from +37. Companies expect inflation of 2.6% three years from now, above the 2% target, keeping the door open to further interest rate rises that would affect mortgage and savings rates. (Reuters)
India
Factory activity hits a seven-month high. The HSBC India manufacturing PMI rose to 55.1 in September from 52.8 in August, its highest since February, as stronger domestic and export demand lifted output and hiring grew at the fastest pace since May. Input costs for electronics, pharmaceuticals and steel rose faster, though price pressures remain below their long-run average. (Business Standard)
Commercial LPG cylinders cost more from October 1. Oil companies raised the price of 19-kg commercial cooking gas cylinders by ₹62.50 to ₹2,810 in Delhi, adding to costs for restaurants and small businesses ahead of the festive season. Prices of 14.2-kg domestic cylinders used by households were left unchanged. (Goodreturns)
South Korea
Exports hit an all-time monthly record of $120.9 billion. September exports jumped 83.5% from a year earlier as semiconductor sales soared 263% to $60.3 billion, the first month above $60 billion, on demand for AI memory chips; the trade surplus reached a record $49.85 billion. Car exports fell 5.5% because of fewer working days during the Chuseok holiday, showing how dependent the boom is on a single industry. (The Korea Times)
Middle East
Brent climbs back above $100 as talks stall. Brent crude for December rose about 2% to around $100 a barrel on Thursday and US crude to about $92, after a roughly 14% gain in September. Gulf exports have partly recovered as Saudi Arabia resumed loadings from its Red Sea port of Yanbu, but US-Iran negotiations over the Strait of Hormuz remain unresolved and China’s fuel export halt added to supply worries, keeping fuel and transport costs high worldwide. (Reuters / Asharq Al-Awsat, CNBC)
Australia
Home values fall for a sixth straight month. Cotality’s index showed national home values down 1.1% in September, leaving them 5.2% below their March peak, with Brisbane down 1.5%, Sydney 1.4% and Melbourne 0.7%. Four interest rate rises this year and changes to negative gearing and capital gains tax have cooled demand, and home sales are running well below last year’s levels. (ABC News)
Sources & method
Compiled by The Daily Economy editorial team with AI assistance from the sources linked in each item, cross-checked in at least two outlets, and updated several times a day. Read our editorial policy.