In the US, the labour market added far more jobs than projected in September, while the unemployment rate unexpectedly ticked lower from 4.2% in August to 4.1%, reflecting a stronger picture of the jobs market than Wall Street had expected. For the week overall, the S&P 500 and NASDAQ both closed higher, up 0.30% and 0.20% respectively. In Europe, the annual rate of inflation decreased to 1.8% in September, marking the lowest rate since April 20. In the UK, economic growth for Q2 was revised downward, with the final growth rate for Q2 recorded at 0.5%. For the week, European and UK equities closed lower, down between -0.18% and -1.88%. In Ireland, Budget 2025 was unveiled, with over €10bn allocated to tax, expenditure and cost of living packages. In Asia Pacific, China has significantly increased its outbound investment in renewable energy over the past year, as the country attempts to establish manufacturing operations abroad in the wake of US and EU sanctions.
