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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK balance of firms reporting total order book above normal recorded an unexpected drop in October
In October, the balance of firms reporting total order book above normal dropped unexpectedly to a level of -17.00 in the UK, higher than market expectations of an unchanged reading. In the previous month, the balance of firms reporting total order book above normal had registered a level of -5.00.
UK CBI trends selling prices advanced in October
CBI trends selling prices recorded a rise to 8.00 in the UK, in October, compared to a level of 5.00 in the prior month.
UK CBI business optimism declined in 4Q 2016
Pessimism among London businesses for the next six months has declined, with a net 8.00% of firms showing pessimism about their business prospects in 4Q 2016, as compared to a net 47.00% of firms that showed pessimism in the previous quarter.
Euro-zone composite PMI advanced in October
The preliminary composite PMI rose to a level of 53.70 in the Euro-zone, in October, compared to a reading of 52.60 in the previous month. Markets were anticipating composite PMI to climb to 52.80.
Euro-zone services PMI rose in October
In October, the flash services PMI in the Euro-zone rose to a level of 53.50, compared to a reading of 52.20 in the previous month. Market expectation was for services PMI to advance to a level of 52.40.
Euro-zone manufacturing PMI climbed in October
The flash manufacturing PMI in the Euro-zone recorded a rise to 53.30 in October, higher than market expectations of a rise to 52.70. The manufacturing PMI had recorded a level of 52.60 in the prior month.
German services PMI recorded a rise in October
In Germany, the preliminary services PMI climbed to 54.10 in October, compared to a reading of 50.90 in the previous month. Market expectation was for services PMI to rise to a level of 51.50.
German manufacturing PMI recorded a rise in October
In October, the preliminary manufacturing PMI in Germany recorded a rise to 55.10, compared to a reading of 54.30 in the previous month. Markets were anticipating manufacturing PMI to climb to 54.40.
French manufacturing PMI registered a rise in October
The preliminary manufacturing PMI rose to a level of 51.30 in October, in France, compared to market expectations of a rise to a level of 50.00. Manufacturing PMI had registered a reading of 49.70 in the previous month.
French services PMI dropped in October
The preliminary services PMI dropped to 52.10 in France, in October, compared to a level of 53.30 in the prior month. Markets were expecting services PMI to ease to 53.00.
Fed’s Bullard sees low interest rates for 2 to 3 years
The Federal Reserve (Fed) Bank of St. Louis President, James Bullard, indicated that low interest rates will likely be the norm during the next two to three years. He further reiterated that a single US interest rate rise is all that’s needed for the time being.
Fed’s Evans sees three interest rate hikes by end of 2017
The Chicago Fed President, Charles Evans, stated that the central bank is likely to raise its policy rate three more times by the end of next year. He also suggested that the Fed may need to keep interest rates lower for longer to convince investors and the public that the central bank is serious about reaching its 2.0% inflation target.
US Markit manufacturing PMI rose surprisingly in October
In October, the preliminary Markit manufacturing PMI climbed unexpectedly to a level of 53.20 in the US, compared to market expectations of a steady reading. The Markit manufacturing PMI had recorded a reading of 51.50 in the prior month.
US Chicago Fed national activity index climbed in September
The Chicago Fed national activity index registered a rise to -0.14 in September, in the US, compared to market expectations of an advance to -0.13. The Chicago Fed national activity index had registered a revised level of -0.72 in the prior month.
Canadian wholesale sales advanced more than expected in August
On a monthly basis, wholesale sales in Canada recorded a rise of 0.80% in August, higher than market expectations for a rise of 0.60%. In the previous month, wholesale sales had registered a revised rise of 0.10%.
Japanese leading economic index climbed in August
The final leading economic index registered a rise to 100.90 in Japan, in August. In the prior month, the leading economic index had recorded a reading of 100.00. The preliminary figures had indicated a rise to 101.20.
Japanese coincident index eased in August
The final coincident index in Japan fell to a level of 112.00 in August. In the prior month, the coincident index had registered a reading of 112.10. The preliminary figures had also indicated a fall to 112.00.
Japanese supermarket sales eased in September
Supermarket sales in Japan dropped 3.20% in September on an annual basis. In the previous month, supermarket sales had dropped 2.90%.
Chinese leading economic index registered a rise in September
In China, the leading economic index advanced 1.10% on a MoM basis, in September. In the prior month, the leading economic index had climbed 0.80%.
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