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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI unexpectedly dropped in August
In the UK, the construction PMI dropped unexpectedly to a level of 45.00 in August, compared to a reading of 45.30 in the prior month. Markets were expecting the construction PMI to advance to a level of 46.50.
US ISM manufacturing activity index surprisingly fell in September
In the US, the ISM manufacturing activity index recorded an unexpected drop to a level of 49.10 in September, lower than market expectations of an unchanged reading. In the prior month, the index had recorded a reading of 51.20.
US construction spending rose less than expected in July
In the US, construction spending climbed 0.10% on a MoM basis in July, compared to a revised fall of 0.70% in the previous month. Market anticipation was for construction spending to advance 0.30%.
Japanese services PMI climbed in August
In Japan, the services PMI recorded a rise to a level of 53.30 in August, lower than market expectations of an advance to a level of 53.40. In the previous month, the index had recorded a level of 51.80.
Australian GDP rose as expected in 2Q 2019
In Australia, the seasonally adjusted gross domestic product (GDP) advanced 0.50% on a QoQ basis in 2Q 2019, compared to an advance of 0.40% in the prior quarter. Market expectation was for GDP to advance 0.50%.
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