On a year-over-year basis, the “actual” September figure reflects how private sector credit has grown compared with September of the previous year, while the “previous” August reading was calculated relative to August of the prior year. The uptick from 6.30% to 7.00% suggests firmer credit demand or increased lending activity heading into the final quarter of 2026, signaling a potentially more supportive financial backdrop for businesses and households in Bahrain.

The move from 7.80% to 8.20% indicates that broad money — which typically includes cash, checking deposits, savings deposits and other near-money instruments — continued to expand at a faster pace as the third quarter came to a close. While the data release does not specify the underlying drivers, changes in M2 growth are closely watched by market participants for potential signals on credit conditions, domestic demand and the broader monetary environment in Bahrain.

With the September 2026 figures now in, analysts and investors can better gauge recent trends in monetary dynamics as they assess the outlook for inflation, interest rates and overall economic momentum in the country.

The indicator tracks overall economic activity on a year-over-year basis, comparing each month to the same period in the previous year. After August’s contraction signaled a slowdown, September’s return to growth suggests a tentative stabilization in Chile’s economy, though the pace of expansion remains weak. Market participants are likely to watch upcoming releases closely to assess whether this shift marks the beginning of a more durable recovery trend or a temporary uptick in an otherwise subdued backdrop.

Foreign Institutional Investors (FIIs) bought equities worth 35.99 billion rupees on Friday, extending their net buying streak to six sessions over the last 10 trading days. Market sentiment was further lifted by expectations of tax relief on equity investments, following reports of proposed changes to India’s long-term capital gains tax framework.

Among index heavyweights, Reliance Industries led the gains, soaring 11.6%—its biggest single-day rise since April 2020—after the company reported a stronger-than-expected 40.6% year-on-year increase in net profit for the September quarter. Bharat Electronics rose 1.9% after it posted a 20% jump in consolidated net profit for the second quarter.

Maruti Suzuki India added 2.2%, supported by robust October sales data across the automobile sector. In contrast, technology stocks underperformed the broader market.

Both figures are based on year-over-year comparisons, measuring changes in registrations for each month against the same month a year earlier. While September showed strong expansion, October’s much lower growth rate suggests that demand in Spain’s car market has moderated as the final quarter of 2026 begins.

The shift from double‑digit growth to low single‑digit gains could indicate that earlier drivers of car sales—such as delayed purchases or prior incentives—have faded, leaving the market on a more subdued trajectory heading into the year’s close.

The figures highlight a strong normalization in the market after September’s outsized increase in registrations. The October reading reflects a more moderate expansion in new vehicle registrations when compared with the previous month, in line with the month‑over‑month comparison methodology that contrasts each month’s change against the immediately preceding one.

The data are presented on a year-over-year basis, meaning the current figure measures GDP growth in the third quarter of 2026 relative to the third quarter of the previous year, while the prior 3.80% reading reflected the second quarter’s performance against the corresponding quarter a year earlier. The gradual pickup from Q2 to Q3 suggests that economic activity in Serbia has maintained positive momentum as 2026 progresses.

Price pressures softened in several major categories, including housing and utilities (11.03% vs. 12.39% in September), clothing and footwear (9.19% vs. 8.98%), communication (13.41% vs. 13.54%), and restaurants and hotels (6.0% vs. 6.1%). Food inflation also moderated to 7.74% from 8.2%. Within this category, prices of perishable food items declined by 2.35%, reversing part of the sharp 11.78% surge recorded in the previous month.

In contrast, inflation for non-perishable food items rose markedly, accelerating to 9.55% from 7.64%, which kept overall food inflation elevated. Transport costs also continued to rise at a faster pace, with inflation in the transport category climbing to 28.61% from 27.43%.

On a monthly basis, consumer prices increased by 1.1% in October, easing from a 1.3% rise in September.

At the same time, Fitch Ratings revised France’s sovereign outlook to negative, pointing to deteriorating public finances, a high government debt burden, elevated borrowing costs, subdued growth, and heightened political uncertainty. The agency projects public debt to increase from 115.7% of GDP in 2025 to 124% by 2028. The budget deficit is forecast to remain at 5.5% of GDP next year, overshooting the government’s 5% target.

Elsewhere in Europe, the ECB left interest rates unchanged on Thursday. President Christine Lagarde noted that a rate hike had been discussed, but policymakers ultimately reached a unanimous decision to keep borrowing costs on hold, arguing that tighter financial conditions are helping to contain inflation.

Brent crude fell below $110 a barrel after reports that US President Donald Trump was prepared to allow more time for diplomatic efforts with Iran before considering renewed military strikes following Tuesday’s midterm elections, which could alter the balance of power in Congress.

At the same time, the European Central Bank left interest rates unchanged on Thursday and offered only limited guidance on the future path of monetary policy. President Christine Lagarde said a rate increase had been discussed, but policymakers unanimously chose to keep borrowing costs on hold, pointing to tighter financial conditions as one factor helping to restrain inflationary pressures.

However, this stronger activity did not feed through to job creation, with employment levels remaining unchanged after six consecutive months of growth. At the same time, supply chains stayed under strain: input cost inflation picked up, and vendor lead times lengthened to one of the greatest extents in four years. Output prices rose at their fastest rate in three months.

Business confidence strengthened to an eight-month high, underpinned by planned capacity expansions, expectations of further market recovery, increased investment in capital equipment and AI, new product launches, and a more robust order pipeline.

Food inflation fell to 7.6% in October, down from 8.5% in September, reflecting more moderate price increases for meat and poultry (8.6% vs. 10.2%) and for sausages and other meat products (11.2% vs. 13.2%). Non-food inflation also decelerated, easing to 10.4% from 11.0%, supported by slower price growth in petrol (8.6% vs. 10.1%) and personal goods (11.3% vs. 11.9%).

In contrast, inflation in paid services accelerated, rising to 10.3% in October from 8.9% in September. This partly offset the broader disinflationary trend, as the increase in service prices was largely driven by higher housing and utility costs (11.2% vs. 6.3%).

On a monthly basis, consumer prices rose by 0.5% in October, down from a 0.6% increase in September, marking the smallest month‑on‑month gain since October 2025.

The business activity index edged up to 48.6 points in October, building on a stronger gain recorded in September. The new sales orders index also increased for a second month in a row, rising to 46.8 points. This was supported by a further improvement in export sales, with that index moving closer to the neutral 50-point mark.

The purchasing prices index climbed to 73.7 points in October from 71.1 in September, likely reflecting a sharp increase in fuel costs along with continued rand depreciation. By contrast, the index tracking expected business conditions in six months’ time declined to 51.7 points in October from 55.3 in September, indicating a moderation in forward-looking optimism.

The move higher in the PMI keeps the index comfortably above the 50-point threshold that separates expansion from contraction, indicating that conditions in UK manufacturing continued to improve over the month. The acceleration from 51.9 to 52.8 points to a firmer growth pace, suggesting that the sector is gaining momentum rather than simply stabilising.

Investors and policymakers will be watching subsequent releases closely to assess whether this improvement marks the beginning of a sustained uptrend for UK industry, or a short-term strengthening within a still-fragile global manufacturing environment.

Backlogs of work declined for the third month running, with the rate of depletion the quickest since January. Purchasing activity continued to grow, although the accumulation of input inventories slowed compared with September.

On the price front, higher fuel costs pushed purchase price inflation to a four-month high, while selling price inflation also quickened to its fastest rate in four months. Despite softening slightly from September, business confidence remained firmly positive.

Supplier delivery times increased to 67.4 from 63.9, signaling further lengthening of lead times and the risk of additional supply bottlenecks. Inventory levels were broadly stable in October, with both inventory-related components hovering around the neutral 50-point level.

The purchase prices component climbed to 77.1 from 70.0, pointing to another substantial rise in input costs. At the same time, the volume of purchases eased to 54.4 from 58.0, though it remained comfortably above the 50-point expansion threshold. The employment component edged down slightly to 48.2 from 48.4, indicating a modest contraction in manufacturing jobs.

Disruptions related to the Middle East conflict continued to weigh on the sector, with supply chains under strain and widespread delays in input deliveries, compounded by higher transport costs. At the same time, lower warehouse inventories and stronger production contributed to a second straight monthly decline in backlogs of work, while employment growth further supported productive capacity.

Despite the ongoing expansion, price pressures remained elevated. Business confidence in the outlook deteriorated, slipping to a five-month low.

New orders declined at their fastest rate since July 2025, while output fell for the first time in three months, prompting manufacturers to scale back both purchasing activity and employment. At the same time, supply conditions worsened notably, with a marked lengthening of delivery times and intensifying cost pressures.

Higher prices for raw materials, energy, and other inputs drove input cost inflation to a four-month peak. In response, firms raised their selling prices at the quickest pace since May.

Oil prices retreated after reports indicated that US President Donald Trump was prepared to allow more time for diplomatic efforts with Iran before considering a resumption of military strikes after Tuesday’s midterm elections, which could alter the balance of power in Congress.

Meanwhile, the ECB left interest rates unchanged on Thursday and provided limited guidance on its future policy direction. President Christine Lagarde noted that a rate hike had been discussed, but policymakers unanimously decided to keep borrowing costs on hold, pointing to tighter financial conditions as a factor helping to restrain inflationary pressures.

Ongoing geopolitical uncertainty continued to dampen customer demand, while manufacturers scaled back purchasing activity and reduced staffing levels for the first time since July. Firms also ran down inventories, opting to keep leaner stock levels despite continuing supply-chain disruptions. Supplier delivery times lengthened at the sharpest pace in three months.

At the same time, inflationary pressures intensified, reaching a four-month high. Companies were able to pass part of their higher costs on to clients, driving selling-price inflation to its highest level in three months. Although businesses remained broadly optimistic about the outlook for the coming year, overall confidence weakened.

In commodities, oil prices retreated after reports that Donald Trump wants to prolong negotiations with Iran and delay any decision on resuming airstrikes until after the elections.

On the corporate front, Fresenius SE & Co. rose more than 2%, topping the index after announcing a partnership with WuXi Biologics aimed at expanding its generic drug portfolio. Symrise gained 2.1%, while Airbus, Commerzbank, Siemens Energy, and Heidelberg Materials also traded in positive territory.

At the other end of the index, Bayer and Deutsche Telekom were the weakest performers, each shedding more than 1%.

Factory employment moved closer to stabilisation, recording its smallest decline in more than three years, as further evidence emerged of mounting capacity pressures. However, alongside a sharp acceleration in input cost inflation to its highest rate since May and a deterioration in supplier delivery times, the latest data indicated weaker output growth expectations among manufacturers for the year ahead and an accumulation of input buffer stocks.

The latest data, updated on 02 November 2026, indicate that manufacturing activity is moving closer to neutral territory after being in contraction. The uptick in October may point to a gradual recovery in demand and output conditions, although sustained readings above 50 will be needed to confirm a more robust turnaround in South Africa’s industrial landscape.