US-based employers announced 97,006 job cuts in May 2026, the most since January, compared to 83,387 in April. It is the highest May total since 2020 and also marks the third straight month that cuts have risen. AI was the main reason for the cuts, leading for a third straight month. Technology announced 38,242 job cuts in May, the highest monthly total for the sector since August 2024. Transportation (6,909), services (6,288) and fintech (5,731) followed. “On top of the headline AI story, we’re seeing a sharp rise in cuts tied to acquisitions and mergers and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy,” said Andy Challenger from Challenger, Gray & Christmas. So far this year, employers have announced 397,755 cuts, down 43% from last year, when reductions to the federal workforce drove totals to historic highs. Stripping out that distortion, 2026 is running roughly even with 2024.

Retail sales volumes in the Eurozone fell 0.4% month-over-month in April 2026, following an upwardly revised 0.8% jump in March and compared to forecasts of a 0.3% drop. Sales decreased 0.9% for non-food products (except automotive fuel) and were down 2.7% for automotive fuel in specialised stores. In contrast, sales rose 0.9% for food, drinks, tobacco. Among the bloc's largest economies, retail sales in Germany decreased 0.2% and in Spain sales dropped 1.5% while in France, sales rose 0.3%. Year-on-year, retail sales went up 1%, less than an upwardly revised 2.1% jump in March and compare to forecasts of 0.3%.

UK new car sales climbed 7.1% year-over-year to 160,662 units in May 2026, the strongest May performance since 2019, according to the Society of Motor Manufacturers and Traders (SMMT). Private buyer demand led the growth, with registrations jumping 17.2% as consumers took advantage of competitive offers from a record range of brands and a 6.4% increase in model choices, including a 25.6% rise in battery electric vehicle (BEV) sales year-to-date. Fleet demand grew modestly by 1.8%, accounting for 57.1% of all registrations, while the smaller business sector declined by 18.8%, though the volume drop was marginal (720 units). Consumer demand continued to shift toward new technologies, with petrol and diesel car registrations falling by 7.1% and 2.2%, respectively. Hybrid electric vehicle (HEV) uptake rose 1.8%, plug-in hybrid deliveries surged 23.9% to capture a 13.8% market share, and BEV registrations increased 34.2%, reaching a 27.3% market share, the highest recorded in 2026 so far.

Turkey’s trade deficit narrowed to USD 5.6 billion in May 2026 from USD 6.6 billion in the same month a year earlier, according to preliminary data from the Trade Ministry. This marks the smallest trade gap since August last year, as exports fell less than imports. Exports declined 9.3% year-on-year to USD 22.5 billion, driven by lower shipments of raw materials (-4.2%), consumer goods (-18.8%), and investment goods (-18.7%). Germany remained the top export destination, followed by the US and Italy. Meanwhile, imports dropped 10.7% to USD 28.1 billion, weighed by decreased purchases of raw materials (-3.9%), consumer goods (-30.1%), and investment goods (-18.4%). China remained the leading source of imports, followed by Russia and Germany. Considering the first five months of the year, the trade deficit widened to USD 42.7 billion from USD 41.1 billion in the same period a year earlier, as imports rose 1.2% while exports increased a slower 0.3%.

Spain’s industrial production increased by 2.0% year-over-year in April 2026, matching market expectations and following an upwardly revised 1.9% rise in March. Energy production rebounded with a 2.4% gain, reversing March’s 1.9% decline, while capital goods output grew 3.6% (up from 3.3%) and intermediate goods rose 2.1% (from 2.0%). However, non-durable consumer goods production nearly stalled at 0.1% (down from 4.1%), and durable consumer goods output continued to decline, falling 6.6% for the second consecutive month.

European stocks traded higher on Thursday, with the STOXX 50 rising 0.5% and the STOXX 600 gaining 0.4%, supported by a slight decline in oil prices and improved hopes for a broader agreement with Iran. Sentiment was lifted after the US said Israel and Lebanon had agreed to a ceasefire, contingent on Hezbollah also ceasing hostilities. LVMH (+2.0%), L’Oréal (+1.5%), Hermès (+1.9%) and SAP (+3.6%) all moved higher. B&M European Value (6.5%) extended gains for a second session to top the STOXX 600 while Puma (5.9%) and Capgemini (5.4%) were also among the top performers. Meanwhile, global technology and AI-related stocks came under pressure following a weaker outlook from Broadcom. ASML slipped 0.2%, while Infineon declined 2.8% and STMicroelectronics slumped 3.5%. Vivendi sank more than 5%, as Europe's second-highest court on Wednesday ?ruled against the company in ?its fight against EU charges for closing ?its 2023 acquisition ?of publisher Lagardere before regulatory approval.