Consumer spending held up in October, despite broader signs of growing strain on lower- and middle-income consumers. Retail sales rose 3.5% YoY, according to the US Commerce Department. Control group sales—which exclude food services, autos, building materials stores, and gas stations, and are used to calculate GDP—increased 0.8% MoM, the biggest rise in four months. However, the US economy appears increasingly fragile. While spending is growing at a healthy pace for now—largely due to higher-income households with a greater capacity to absorb higher prices and a stronger appetite for discretionary purchases—a softening labor market and tariff-driven inflation could push consumers to pull back next year.

The global transition to electric vehicles is losing momentum as both policymakers and automakers scale back ambitions. The EU is retreating from its 2035 combustion-engine phaseout, while Ford is pausing F-150 Lightning production and redirecting resources toward hybrids after steep EV losses. Demand has softened as incentives expire in the US and Europe and regulatory pressure eases under the Trump administration. With affordability and range anxiety still major consumer hurdles, EV share is projected to slip to 6% next year, signaling a far slower transition than industry leaders once expected.

The average cost of ad-free streaming has risen from $9 to $16 per month since 2020, a 78% increase in five years, according to an October analysis from The Verge.