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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK new car registrations rose in October
In the UK, new car registrations recorded a rise of 1.40% on a YoY basis, in October. In the previous month, new car registrations had registered a rise of 1.60%.
Euro-zone composite PMI registered a rise in October
In October, the final composite PMI in the Euro-zone recorded a rise to 53.30, compared to a reading of 52.60 in the previous month. Markets were anticipating composite PMI to rise to 53.70. The preliminary figures had indicated an advance to 53.70.
Euro-zone PPI surprisingly rose in September
On a MoM basis, the producer price index (PPI) unexpectedly climbed 0.10% in September, in the Euro-zone, compared to a drop of 0.20% in the previous month. Market expectation was for the PPI to record an unchanged reading.
Euro-zone services PMI advanced in October
The final services PMI climbed to 52.80 in October, in the Euro-zone, compared to a level of 52.20 in the previous month. Markets were anticipating services PMI to advance to 53.50. The preliminary figures had recorded a rise to 53.50.
German services PMI rose in October
The final services PMI in Germany registered a rise to 54.20 in October, compared to a level of 50.90 in the previous month. The preliminary figures had indicated a rise to 54.10. Market expectation was for services PMI to rise to 54.10.
French services PMI fell in October
In October, the final services PMI dropped to 51.40 in France, compared to market expectations of a drop to 52.10. Services PMI had recorded a level of 53.30 in the previous month. The preliminary figures had recorded a drop to 52.10.
Italian services PMI climbed in October
The services PMI advanced to 51.00 in Italy, in October, compared to market expectations of an advance to 51.50. In the previous month, the services PMI had recorded a level of 50.70.
Spanish services PMI recorded a surprise drop in October
In Spain, the services PMI dropped unexpectedly to a level of 54.60 in October, compared to market expectations of an advance to a level of 55.00. In the previous month, the services PMI had recorded a reading of 54.70.
Household employment in the US eased in October
Household employment in the US fell by 43.00 K in October. Household employment had registered a gain of 354.00 K in the previous month.
Private payrolls in the US recorded an increase in October
Private payrolls in the US advanced by 142.00 K in October, lower than market expectations of an advance of 170.00 K. Private payrolls had recorded a revised increase of 188.00 K in the previous month.
Manufacturing payrolls in the US slid in October
In the US, manufacturing payrolls registered a drop of 9.00 K in October, compared to market expectations of a decline of 4.00 K. Manufacturing payrolls had recorded a revised fall of 8.00 K in the previous month.
US average weekly hours of all employees remained steady in October
In October, average weekly hours of all employees remained steady at a level of 34.40 in the US, meeting market expectations.
US underemployment rate registered a drop in October
Compared to a level of 9.70% in the prior month underemployment rate eased to 9.50% in October, in the US.
US unemployment rate dropped in October
Unemployment rate dropped to 4.90% in the US, in October, at par with market expectations. Unemployment rate had registered a level of 5.00% in the previous month.
US average hourly earnings of all employees rose more than expected in October
In October, average hourly earnings of all employees recorded a rise of 0.40% in the US on a monthly basis, compared to a revised advance of 0.30% in the prior month. Market expectation was for average hourly earnings of all employees to advance 0.30%.
Non-farm payrolls in the US climbed in October
In the US, non-farm payrolls rose by 161.00 K in October, following a revised advance of 191.00 K in the previous month. Markets were anticipating non-farm payrolls to advance 173.00 K.
US average hourly earnings of all employees rose more than expected in October
In October, on an annual basis, average hourly earnings of all employees in the US rose 2.80%, compared to a revised advance of 2.70% in the previous month. Market anticipation was for average hourly earnings of all employees to rise 2.60%.
US trade deficit narrowed in September
Trade deficit in the US dropped to $36.40 billion in September, following a revised trade deficit of $40.50 billion in the prior month. Market expectation was for the nation to record a trade deficit of $38.00 billion.
Number of full time employment in Canada declined in October
The number of full time employment recorded a drop of 23.10 K in Canada, in October, compared to a gain of 23.00 K in the previous month.
Canadian participation rate registered an unexpected rise in October
In October, the participation rate in Canada advanced unexpectedly to 65.80%, higher than market expectations of an unchanged reading. The participation rate had recorded a reading of 65.70% in the prior month.
Canadian Ivey PMI registered a decline in October
The non-seasonally adjusted Ivey PMI in Canada dropped to 56.50 in October. In the prior month, Ivey PMI had registered a level of 68.10.
Canadian Ivey PMI advanced surprisingly in October
In October, the seasonally adjusted Ivey PMI climbed unexpectedly to 59.70 in Canada, compared to market expectations of a drop to 56.00. In the previous month, Ivey PMI had registered a level of 58.40.
Part time employment in Canada advanced in October
Part time employment in Canada registered a rise of 67.10 K in October, following an advance of 44.10 K in the previous month.
Canadian unemployment rate steadied in October
The unemployment rate remained steady at 7.00% in Canada, in October. Market anticipation was for the unemployment rate to record a steady reading.
Canadian international merchandise trade deficit widened in September
The international merchandise trade deficit in Canada expanded to C$4.08 billion in September, compared to a revised international merchandise trade deficit of C$1.99 billion in the previous month. Market anticipation was for the nation’s international merchandise trade deficit to fall to C$1.70 billion.
Net number of people employed in Canada rose surprisingly in October
In Canada, the net number of people employed climbed unexpectedly by 43.90 K in October, compared to a gain of 67.20 K in the prior month. Market expectation was for the net number of people employed to fall 15.00 K.
BoJ Minutes: Policymakers admitted that more time needed to hit price target
As per the Bank of Japan’s (BoJ) September 20-21st meeting minutes, majority of the policymakers expressed the view that it could take time for the central bank’s monetary policy to heighten inflation expectations. At this meeting, the BoJ switched its policy target to interest rate targeting from quantitative easing, after years of asset purchases failed to jolt the economy out of stagnation.
Japanese labour cash earnings advanced as expected in September
Labour cash earnings advanced 0.20% on a YoY basis in September, in Japan, in line with market expectations. In the prior month, labour cash earnings had recorded a revised unchanged reading.
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