Editor's Note: Some linked articles may be behind subscription paywalls.
1. Majority of US consumers expect economy to weaken
According to an annual Deloitte survey of 4,000 respondents, 57% of U.S. consumers expect the economy to weaken in 2026, CNBC reports. This is up from 30% in last year's survey and is higher than it was in 2008, during the Great Recession, when it was at 54%. It's the highest mark since Deloitte started this survey in 1997.
Furthermore, 77% of respondents said they expect higher prices on holiday items, up from 69% last year.
“We’ve been talking about the resilient consumer for a while now, that despite all these pressures, the U.S. consumer continues to spend and we keep seeing growth and spending for retail,” said Brian McCarthy, retail strategy leader for Deloitte. “This outlook is starting to suggest that we’re getting towards the end of that resilience.”
2. EU exports to US drop significantly in August
Goods exported from the European Union to the United States fell 26% in August compared to July and 22% year over year, according to Eurostat data, the Wall Street Journal reports. This comes after the EU and U.S. agreed to a 15% tariff on goods imported into the U.S. in late July.
"Seasonally adjusted exports overall from the European Union decreased by 1.2% on month in August compared with July, statistics agency Eurostat said Thursday. Imports fell by a larger 2.1%, suggesting the trade environment is weakening," the Wall Street Journal reports.
3. Hoteliers frustrated with uncertainty
As the end of a disappointing 2025 nears, hotel executives speaking from the main stage at The Lodging Conference expressed their discontent with the unpredictability of factors outside of their control, such as policy shifts from the U.S. affecting the broader economy, CoStar News Hotels reports.
Leeny Oberg, chief financial officer and executive vice president of development at Marriott International, said the frequent roll out of new tariffs has thrown off the planning process.
"You've got all these people trying to make plans about their cutbacks and what they're trying to do with their properties, and it's literally every week or every day there's a new announcement. 'Oh, it's furniture today,' or, 'Oh, it's this country today.' From a planning perspective, it makes it extremely difficult," she said.
4. Sonesta appoints Phil Hugh as chief development officer
Sonesta International Hotels Corp. appointed Phil Hugh as its new chief development officer, the company said in a news release. Hugh will succeed Brian Quinn, who had served in the role since March 2021.
Hugh joined Sonesta in March 2024 as a senior vice president and head of luxury and lifestyle development. He previously served as chief development officer at Red Roof Inn and Radisson Hotel Group Americas.
5. UK economy grows slightly in August
The U.K. economy grew by 0.1% in August, BBC News reports. That marginal growth reverses a 0.1% decline recorded in July. The manufacturing sector led the way in August, up 0.7%.
Next month, the U.K. will unveil its Autumn 2025 budget, with a focus on growing the economy further. Collectively for June, July and August, the economy expanded by 0.3%.
"Economic growth increased slightly in the latest three months. Services growth held steady, while there was a smaller drag from production than previously," said Liz McKeown, ONS director of statistics.