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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone manufacturing PMI unexpectedly declined in November
In the Euro-zone, the preliminary manufacturing PMI unexpectedly dropped to a level of 51.50 in November, compared to a reading of 52.00 in the previous month. Market anticipation was for the index to remain unchanged.
Euro-zone services PMI dropped in November
The flash services PMI in the Euro-zone dropped to a level of 53.10 in November, compared to a level of 53.70 in the previous month. Markets were expecting the index to ease to a level of 53.60.
German GDP rose as expected in 3Q 2018
The final gross domestic product (GDP) in Germany advanced 1.10% on a YoY basis, in 3Q 2018, in line with market expectations. GDP had climbed 2.00% in the previous quarter.
US Markit services PMI surprisingly dropped in November
The preliminary Markit services PMI in the US recorded an unexpected drop to a level of 54.40 in November, lower than market expectations of a rise to a reading of 55.00. In the prior month, the index had recorded a reading of 54.80.
US Markit manufacturing PMI unexpectedly declined in November
In the US, the preliminary Markit manufacturing PMI unexpectedly fell to a level of 55.40 in November, compared to market expectations of a steady reading. The Markit manufacturing PMI had registered a reading of 55.70 in the previous month.
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