Growing, growing, growing.
It seems in spite of US tariffs.
So how healthy is Indy's economy?
It's World Business Express from the BBC World Service.
I'm Stephen Ryan.
Also with US stock futures frozen early on Friday morning.
What a data disruption in Chicago means for global markets.
And why are American retailers hiring a record low number of temporary workers this holiday season?
Data out from Delhi shows that India's economy grew by more than people expected.
Prime Minister Narendra Modi has introduced tax cuts at home.
These shoppers spoke to the BBC when those were introduced back in September.
If the tax bill comes down, so automatically our pocket will allow to spend some more.
I'm hopeful that it works as per plan.
If it does, of course it's going to be beneficial for all of us.
But looking at international trade, Mr Modi has faced the challenge of 50 tariffs on goods being shipped to America.
So what do the numbers like this gross domestic product, or GDP, tell us about India's economy?
That's a question for our India business correspondent, Arunadhe Mukherjee.
The numbers that we got today from the government were higher than expectations.
The Indian economy growing at a robust 82 year on year for the period of July to September, largely driven by strong consumer spending and manufacturing.
And what is also important is that these were the first figures.
Thank you very much.
Which has flagged in the past also saw an improvement due to better agricultural output, including manufacturing as well.
So I think all of this has been very significant.
And when you talk about rural consumption, are you talking about people doing well, because there's been a good harvest this year?
That's right.
Whether the conditions have been favorable, which have led to a good agricultural output, leading to more money in the hands of people, leading to more sales, or rather more spending.
And a lot of this is also being attributed to the recent reforms that the Indian government undertook when it came to goods and services tax, which essentially encouraged people to spend more.
We also saw the festive season.
So everything is really coincided. which has contributed to the figures that we're seeing today.
The Trade Secretary, Rajesh Agarwal, has been talking to business leaders on Friday.
You mentioned tariffs.
He seems optimistic.
What's the mood among business leaders you're talking to?
Well, they're all optimistic in a sense.
And I think we've been listening in to reactions that have been coming in over the past weeks, over the past few months.
And there has been a consistent sense that, look, we're getting there.
Conversations have not broken down.
It's not as if a complete dead end.
But you know, we have seen, The sticking points have been very hard for both sides to really iron out, especially more access that the US has been demanding, for instance, from India's agriculture sector, from India's dairy sector, which India has been very, very aggressively been protecting when it comes to its farmers.
That's the BBC's Arunadai Mukherjee in Delhi there.
Well, we've just been talking about India.
Let's turn to Europe and to Europe's largest economy, which is Germany.
They've had inflation data out today me bring in randy psalmel.
He's a fund manager at mng investments.
Randy, what do we get from this data?
What does it show us?
It shows that inflation in germany is running higher than expected, mainly due to feud and services.
Now the ramifications for this, being europe's largest economy, is that it may delay future ecb rate interest rate falls going forward, which will help boost the economy further and crossing stateside.
It's the day after thanksgiving, so a quieter trading day, But there has been some data disruption in Chicago on Friday morning.
There has.
I mean, thankfully, it was Thanksgiving and flows are much smaller than they used to be.
But the Chicago Mercantile Exchange, their global electronic trading platform, was down for 10 hours.
So no options, no commodities, no futures were being traded.
And that's mainly due to a data center just outside Chicago that overheated.
It looks like that problem is now under control.
But quieter volume, a quieter day, so the volumes would have made that a little bit easier.
Yes, exactly.
Thanks very much.
Randy Psomal at MNG.
We'll come back to you later in the show.
Strikes are taking place in Italy today over the government's proposed 2026 budget.
Unions and workers have been vocal in their opposition to proposed cuts to public services, while expecting to see an increase in defence spending.
The Italian economy has seen some recent improvement, and last week Moody's was the latest ratings agency to lift the country's rating.
Lorenzo Codogno is an economist and professor in practice at the London School of Economics.
This government is fiscally responsible, which is good, but it's doing very little to support economic growth and to structurally reform the economy over the medium term.
So that is the main problem in my view.
So this strike probably is just a reflection of tight policy implemented since COVID and not adjusting tax brackets in the face of higher inflation, which has increased the fiscal revenues and was a way to kind of move out of fiscal problems.
Lorenzo Codogno there.
As I mentioned already, it's the day after Thanksgiving in the United States and it turns out retailers are taking on a record low number of seasonal workers this holiday season.
That's despite a rising demand from Americans who rely on these jobs to make ends meet.
The BBC's North America business correspondent Michelle Flurry has more on that story.
New York's feeling festive.
From the magic of Macy's holiday windows... to the glow of Saks' light show along Fifth Avenue.
But behind the holiday sparkle, a different story.
For many who rely on seasonal work, this year brings fewer jobs and fewer opportunities.
At New Jersey's Garden State Parkway Mall, the marketing director, Will Lewis, tells me shops are hiring just not nearly enough to meet the surge of people looking for seasonal work.
We had over 11000 job applicants come out on a Saturday afternoon to our job fair, at which we had 35 plus.
According to the National Retail Federation, shops are expected to hire fewer than 365000 temporary workers this November and December, the lowest seasonal hiring level in years.
And yet holiday sales are projected to top $1 trillion in 2025.
So what's going on?
We do see that this is one of the worst hiring years we've seen in some time.
Corey Stahl is senior economist from the online job site Indeed.
What we see is that the broader labor market has slowed down.
And what that means is there are fewer opportunities for job seekers.
So they're becoming more interested in these jobs.
But that slowing labor market also means that employers are less interested in hiring those people.
For some shoppers, the economic uncertainty means tightening their budgets.
I just feel like there's a lot going on money-wise in the economy, so I'm just trying to look for the good deals.
Others say they won't let rising prices dampen their holiday spirit.
I'm going to definitely shop the same amount.
I'm not cutting back.
I think we're going to be shopping more.
And with fewer seasonal workers, shoppers may face longer lines and a little less holiday cheer.
The BBC's Michelle Flurry.
Well, if you're in certain countries today, you can hardly miss that it's Black Friday, which is a day of deals offered by many retailers.
But those doing the selling are also good at making us do the buying with some clever tricks.
Dr Daniel Foyer-Eagle studies the science of decision making and explains one of the methods to watch out for.
There might be only three products remaining on sale at a retailer, but then 10 people have this in their shopping cart and the retailers will be very keen to let you know.
And it really changes the framing of this decision from do I want this product to what if I miss out.
And it really makes us feel like we don't act fast, not even going to have that choice.
Rushing out for an offer there, Randeep?
I'm in the market for a new alarm clock for when you have me up early.
So potentially.
Thanks very much.
Randeep Samal from M&G Investments.
More on Black Friday spending on our later edition World Business Report.
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From me, Stephen Ryan, Oum Shishti, Fauna Rian and all the team.
Thanks for listening.
Bye bye.
