Global Economy Briefing — February 5, 2026

2026-02-05 - 09:05

The Big Three 1. U.S. hiring stalled. ADP printed just 22K jobs (vs 46K expected), the weakest reading this cycle. Vehicle sales collapsed to 14.90M from 16.00M. Demand is finally flinching. 2. Eurozone inflation fell below target. Headline CPI dropped to 1.7% y/y—comfortably under the ECB’s 2% goal—with core easing to 2.2%. The rate-cut case