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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK official reserves rose in October
Official reserves in the UK registered a rise of $16.00 million, in October. Official reserves had fallen $321.00 million in the previous month.
UK services PMI advanced in October
The services PMI climbed to 54.90 in the UK, in October, compared to market expectations of a rise to 54.50. The services PMI had registered a level of 53.30 in the prior month.
Euro-zone services PMI rises in October
In October, the final services PMI in the Euro-zone climbed to 54.10, lower than market expectations of an advance to 54.20. In the previous month, services PMI had registered a level of 53.70. The preliminary figures had indicated an advance to 54.20.
Euro-zone producer price index (PPI) falls less than expected in September
In September, the producer price index (PPI) recorded a drop of 0.30% in the Euro-zone on a monthly basis, less than market expectations for a fall of 0.50%. The producer price index (PPI) had recorded a drop of 0.80% in the previous month.
Euro-zone composite PMI advances in October
In the Euro-zone, the final composite PMI advanced to 53.90 in October, compared to market expectations of an advance to 54.00. Composite PMI had registered a reading of 53.60 in the previous month. The preliminary figures had indicated a rise to 54.00.
German services PMI advanced in October
The final services PMI recorded a rise to 54.50 in October, in Germany, lower than market expectations of a rise to 55.20. The preliminary figures had recorded an advance to 55.20. In the prior month, services PMI had registered a reading of 54.10.
French services PMI climbed in October
In October, the final services PMI in France rose to a level of 52.70, higher than market expectations of a rise to 52.30. In the previous month, services PMI had recorded a reading of 51.90. The preliminary figures had indicated an advance to 52.30.
Italian services PMI climbed in October
In October, the services PMI in Italy recorded a rise to 53.40, lower than market expectations of a rise to a level of 53.50. The services PMI had registered a level of 53.30 in the previous month.
Spanish services PMI climbed in October
In October, the services PMI in Spain registered a rise to 55.90, compared to a level of 55.10 in the prior month. Markets were expecting the services PMI to rise to a level of 55.40.
Swiss UBS real estate bubble index advanced in 3Q 2015
Compared to a reading of 1.37 in the prior quarter the UBS real estate bubble index climbed to 1.38 in 3Q 2015, in Switzerland.
Janet Yellen says December interest rate hike possible
The US Fed Chairperson, Janet Yellen, while testifying before the House financial services committee stated that the economy has been performing well and the policy setting committee believes that the US economy will continue to grow at a pace that is enough to generate further improvements in the nation’s labour market and to return inflation at its desired target over the medium term. She added that if oncoming economic data supports these expectations, it could be appropriate to raise rates at the Fed’s final policy meeting of the year in mid-December. Though she stressed that no such decision has been made yet.
Private sector employment in the US rose in October
The private sector employment in the US rose by 182.00 K in October, compared to a revised gain of 190.00 K in the previous month. Market anticipation was for the private sector employment to rise 180.00 K.
US mortgage applications fell in the last week
On a weekly basis, mortgage applications in the US recorded a drop of 0.80% in the week ended 30 October 2015. In the previous week, mortgage applications had recorded a drop of 3.50%.
US trade deficit dropped in September
The US has reported trade deficit of $40.81 billion in September, from a revised trade deficit of $48.02 billion in the prior month. Market expectation was for a trade deficit of $41.00 billion.
US non-manufacturing PMI climbed surprisingly in October
In October, the non-manufacturing PMI climbed unexpectedly to a level of 59.10 in the US, compared to a level of 56.90 in the prior month. Market anticipation was for the non-manufacturing PMI to ease to 56.50.
US Markit composite PMI remained flat in October
In October, the final Markit composite PMI remained flat at 55.00 in the US. The preliminary figures had recorded a drop to 54.50.
US Markit services PMI fell in October
The final Markit services PMI registered a drop to 54.80 in the US, in October, higher than market expectations of a fall to 54.50. The preliminary figures had recorded a drop to 54.40. In the previous month, Markit services PMI had recorded a level of 55.10.
Canadian international merchandise trade deficit narrowed in September
The international merchandise trade deficit in Canada narrowed to C$1.73 billion in September, less than market expectations of an international merchandise trade deficit of C$1.75 billion. Canada had registered a revised international merchandise trade deficit of C$2.66 billion in the previous month.
BoJ minutes revealed that Japanese economic recovery on track
Minutes of the Bank of Japan’s (BoJ) October 6-7 meeting revealed that many of the board members agreed that the nation’s economic recovery continues to be on track and that inflation expectations appear to be rising on the whole from somewhat longer-term perspective. However, the minutes also indicated that inflation was expected to remain close to flat for the foreseeable future due to lower energy prices.
Japanese consumer confidence index climbed in October
The consumer confidence index rose to a level of 41.50 in October, in Japan, compared to market expectations of a rise to a level of 40.80. The consumer confidence index had recorded a level of 40.60 in the previous month.
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