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November 3, 2025 6:30 PM UTC
October’s ISM manufacturing index of 48.7 from 49.1 is weaker than S and P manufacturing PMI and the bulk of the reginal surveys had implied, and keeps the index is a tight range marginally short of neutral. Some of the tariff impact is fading, with prices paid and inventories slowing.

November 3, 2025 4:01 PM UTC
Notably, the level of UK GDP has hardly moved since March but we think there will be distinct setback in the September numbers where the cyber-attack of JLR vehicle manufacturing may be sizeable – car reduction may have fallen some 25% m/m-plus in the month alone. As a result, we see September G
November 3, 2025 3:57 PM UTC
Canadian employment data has been volatile in recent months, but underlying trend looks fairly flat, consistent with weak but marginally positive GDP growth. We expect October to see a decline of 5k after a strong 60.4k increase in September with unemployment unchanged at 7.1%.