ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

AUDCAD Australian Dollar vs Canadian Dollar

0.8821
-0.004 (-0.45%)
Last Updated: 21:34:05
Delayed by 15 minutes
Name Symbol Market Type
Australian Dollar vs Canadian Dollar FX:AUDCAD Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.004 -0.45% 0.8821 0.8816 0.8826 0.8869 0.8818 0.8862 0 21:34:05

Eurozone Private Sector Growth Strongest Thus Far This Year

24/10/2016 9:33am

RTTF2


AUD vs CAD (FX:AUDCAD)
Forex Chart


From Mar 2019 to Mar 2024

Click Here for more AUD vs CAD Charts.

Eurozone private sector expanded at the fastest pace thus far this year, led by a strong rebound in Germany, while the pace of growth eased in France.

The Composite Output Index, which combines manufacturing and services, rose to 53.7 from 52.6 in September, preliminary results of the purchasing managers' survey by IHS Markit showed Monday.

The outcome exceeded the 52.8 score economists had predicted. A reading above 50 suggests expansion in the private sector.

The Services Purchasing Managers' Index, or PMI, climbed to a nine-month high of 53.5 from 52.2 in September. Economists had forecast a score of 52.4.

The Manufacturing PMI increased to a 30-month high of 53.3 from 52.6 in September. Economists were looking for a score of 52.7.

The manufacturing output index rose to ten-month high of 54.4 from 53.8 in September.

"Many of the uncertainties plaguing the Eurozone economy may have faded somewhat, but concerns about geopolitical risks, instability in the financial sector and monetary policy are far from likely to fade into the background permanently," ING Bank economist Bert Colijn said.

"A strong October therefore does not yet mean a strong Q4, but at least it's a good start."

The fastest new order growth since January, led to the biggest gain in employment in three months. However, backlogs of work accumulated at the fastest rate since May 2011 as many firms struggled to keep pace with demand.

Average input costs increased at the steepest rate for 15 months, driven by higher commodity prices, notably oil-related, as well as rising wage costs.

Consequently, output prices rose for the first time since August 2015 as companies tried to pass on the increased costs to customers.

In Germany, private sector growth recovered sharply to a three-month high in October, on the back of a strong rebound in the service sector and faster expansion in manufacturing.

The flash Germany Composite PMI rose to 55.1 from a 16-month low of 52.8 in September. The Services PMI also climbed to a three-month high of 54.1 from 50.9 in September. Economists had forecast a score of 51.8.

The flash Manufacturing PMI rose to a thirty-three month high of 55.1 from 54.3 in September. Economists had expected the reading to hold steady. The Manufacturing Output Index increased to a three-month high of 56.9 from 56.4 in September.

Meanwhile, French private sector growth slowed in October as a rebound in manufacturing failed to offset the weaker expansion in services. The flash France Composite PMI fell to a two-month low of 52.2 from a 15-month peak of 52.7 in September.

The manufacturing PMI rose to a ten-month high of 51.3 from 49.7 in September as manufacturers raised production to the greatest degree since March 2014. The manufacturing output index climbed to a 31-month high of 52.5 from 50.2 in September.

Meanwhile, the flash Services PMI dropped to a three-month high of 52.1 from 53.3 in September.

"The eurozone economy showed renewed signs of life at the start of the fourth quarter, enjoying its strongest expansion so far this year with the promise of more to come," IHS Markit economist Chris Williamson said.

"Policymakers will be encouraged by signs of both stronger economic growth and rising price pressures, and the prospect of a robust fourth quarter will fuel further speculation of a possible tapering of QE purchases by the ECB."

1 Year AUD vs CAD Chart

1 Year AUD vs CAD Chart

1 Month AUD vs CAD Chart

1 Month AUD vs CAD Chart

Your Recent History

Delayed Upgrade Clock