UAE oil output hits fresh record high in September UAE: The UAE’s oil output rose to 3.92 million barrels per day (mbpd) in September from 3.83 mbpd in August, a fresh record high as the UAE continued to capitalize on its OPEC exit and moved crude through the Strait of Hormuz via ship-to-ship transfers.

Iran war tips GDP into contraction in Q2 UAE: The UAE's GDP shrank 2.1% year on year in Q2 2026, swinging from Q1’s 3.0% expansion and marking the first contraction since Q1 2021, as the Iran war weighed on activity for a full quarter. Over the first half of the year as a whole, GDP grew just 0.4% annually.

Retail sales slow in September Poland: Retail sales were up 3.6% in annual terms in September, following a 4.0% rise in the prior month. Relative to the previous month's figures, readings in September worsened for textiles, clothing and footwear (-3.0% on a year-on-year basis vs -2.7% in August) and fuel (-9.8% vs +1.1% in August). In contrast, readings picked up for motor vehicles, motorcycles and parts (+13.1% vs +11.7% in August), furniture, radio, TV and household appliances (+10.7% vs +10.6% in August) and food, beverages and tobacco (+1.4% vs +1.0% in August). In seasonally adjusted month-on-month terms, retail sales declined 1.7% in September, following 1.0% growth in the prior month.

Magyar Nemzeti Bank leaves rates unchanged in October Hungary: At its meeting on 20 October, the Monetary Council of the Magyar Nemzeti Bank (MNB) held its base rate at 5.50%—its lowest level since May 2022—extending September’s pause after three consecutive 25 basis point cuts over the summer. The decision aligned with market expectations.

Economic activity decelerates in August Mexico: Economic activity was up 0.6% in seasonally adjusted month-on-month terms in August, following a 0.8% rise in the prior month. Relative to the prior month's data, the reading for the services sector worsened in August (+0.2% on a seasonally adjusted month-on-month basis vs +1.2% in July). In contrast, readings improved for the industrial sector (+0.6% vs +0.5% in July) and the primary sector (+3.5% vs -1.1% in July). On a year-on-year basis, economic activity was up 3.3% in August, following 3.4% growth in the prior month.

Industrial production returns to growth in August Czech Republic: Industrial production rose 0.3% in seasonally adjusted month-on-month terms in August, following a 1.0% fall in the prior month. Relative to the previous month's figures, the reading for manufacturing improved in August (+1.0% in seasonally adjusted month-on-month terms vs -1.3% in July). In contrast, readings softened for electricity, gas, steam and air conditioning supply (-6.0% vs +0.3% in July) and mining and quarrying (-1.8% vs -1.2% in July). In working-day adjusted year-on-year terms, industrial production was up 2.6% in August, following 3.1% growth in the previous month.

Inflation picks up in September from the prior month Hong Kong: Consumer prices increased 1.9% in annual terms in September, following a 1.7% rise in the previous month. Relative to the previous month's figures, there were higher price pressures for transportation (+5.2% on a year-on-year basis vs +3.9% in August), electricity, gas and water (+12.9% vs +11.5% in August) and clothing and footwear (+0.4% vs 0.0% in August). Finally, the variations in food and non-alcoholic beverages and housing were the same as in the prior month (+0.5% and +0.2%, respectively). Finally, consumer prices were up 0.36% in September on a month-on-month basis, following a 0.09% increase in the prior month.

Economic activity decelerates in September Israel: The monthly index of economic activity increased 0.3% in seasonally adjusted month-on-month terms in September, following a 0.4% rise in the prior month. The latest month’s reading is the average growth estimate from the previous three months. September’s reading was boosted by credit card spending, goods exports—particularly manufacturing—and stock market gains in August and September, alongside stronger retail trade and services receipts in August. However, weaker employment and job vacancy figures in August and indirect tax receipts in September tempered the increase.

Economic activity shrinks in July Argentina: Economic activity was down 1.7% in annual terms in August, following a 1.5% fall in the prior month. August's reading was the weakest since September 2024 and notably weaker than market expectations. Relative to the prior month's figures, readings in August softened for agriculture (-1.0% on a year-on-year basis vs +1.0% in July), transport and communications (-2.9% vs -2.3% in July) and hotels and restaurants (+3.1% vs +3.4% in July). In contrast, readings improved for manufacturing (-3.2% vs -4.6% in July) and construction (-2.5% vs -2.7% in July). In month-on-month terms, economic activity increased 0.1% in August, following a 2.8% decline in the prior month.

Inflation stabilizes in July Kuwait: Consumer prices rose 2.2% on a year-on-year basis in July, stable from the prior month's reading. Relative to the previous month's figures, there were higher price pressures for transportation (+5.5% on a year-on-year basis vs +4.8% in June) and food and non-alcoholic beverages (+6.1% vs +5.6% in June). In contrast, there were reduced price pressures for recreation and culture (+1.0% vs +1.1% in June) and clothing (+0.5% vs +0.9% in June). Finally, the variation in housing and utilities prices was the same as in the prior month (+0.2% in July and June). Finally, consumer prices increased 0.21% in July on a month-on-month basis, following a flat reading in the previous month.