— U.S. consumers recently had record credit card debt (over $1.1 trillion) but this fell slightly in August; in early October, U.S. consumer sentiment dipped on cost of living concerns.
— U.S. inflation was rising at an annualized rate of 2.4% through Sept., and 3.4% if food and energy are excluded, slightly higher than expected; wholesale prices are up 1.8% from a year ago.
— France’s new government presented tax hikes and spending cuts to lower the annual government deficit to 5% of GDP vs. the current 6%, as analysts warn of ratings downgrades
— China’s exports grew only 2.4% in Sept. vs. 12 months ago, on tariffs and slowing global economy, and imports just 0.3%, as the government tries to reignite growth through monetary stimulus.
— The UK government will support investment in energy storage infrastructure by guaranteeing a certain level of revenue for developers of relevant technologies starting in 2025.
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