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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI climbed in September
The construction PMI climbed to 59.90 in the UK, in September, compared to a reading of 57.30 in the previous month. Market expectation was for the construction PMI to climb to 57.50.
Euro-zone producer price index (PPI) fell more than expected in August
The producer price index (PPI) in the Eurozone registered a drop of 0.80% in August on a monthly basis, compared to a revised fall of 0.20% in the prior month. Markets were expecting the producer price index (PPI) to fall 0.60%.
Number of people unemployed in Spain climbed in September
Number of people unemployed in Spain recorded an increase of 26.10 K in September, more than market anticipations of an advance of 21.10 K. Number of people unemployed had recorded an increase of 21.70 K in the prior month.
Fed’s Fischer Rules Out Risks Of Financial Stability In The Near Term
Federal Reserve Vice Chairman Stanley Fischer said he doesn’t see acute risks of financial stability in the US economy as banks are well capitalized and have sizable liquidity buffers, the housing market is not overheated, and borrowing by households and businesses has only begun to pick up after years of decline or very slow growth, but warned that if they were to develop, the central bank’s policy tools to deal with them remain limited and untested.
US average hourly earnings of all employees remained steady in September
In September, on a MoM basis, average hourly earnings of all employees remained flat in the US, compared to a revised rise of 0.40% in the prior month. Market expectation was for average hourly earnings of all employees to climb 0.20%.
Household employment in the US declined in September
Household employment in the US eased by 236.00 K in September, following an advance of 196.00 K in the previous month.
US unemployment rate remained steady in September
In the US, unemployment rate remained unchanged at a level of 5.10% in September, in line with market expectations.
Manufacturing payrolls in the US slid unexpectedly in September
In the US, manufacturing payrolls eased unexpectedly by 9.00 K in September, higher than market expectations of a decline of 0.00 K. Manufacturing payrolls had recorded a revised loss of 18.00 K in the previous month.
US New York City current business condition index declined in September
The New York City current business condition index in the US eased to 44.50 in September. In the prior month, the New York City current business condition index had recorded a level of 51.10.
US underemployment rate recorded a drop in September
Underemployment rate in the US eased to 10.00% in September, compared to a rate of 10.30% in the previous month.
US average weekly hours of all employees dropped surprisingly in September
In September, average weekly hours of all employees recorded an unexpected drop to a level of 34.50 in the US, lower than market expectations of an unchanged reading. In the prior month, average weekly hours of all employees had registered a level of 34.60.
US average hourly earnings of all employees rose less than expected in September
Average hourly earnings of all employees in the US registered a rise of 2.20% in September on an annual basis, compared to a similar rise in the prior month. Markets were expecting average hourly earnings of all employees to climb 2.40%.
US factory orders declined more than expected in August
In August, factory orders recorded a drop of 1.70% in the US, on a monthly basis, more than market expectations for a fall of 1.20%. Factory orders had climbed by a revised 0.20% in the prior month.
Private payrolls in the US climbed in September
Private payrolls registered a rise of 118.00 K in the US, in September, compared to market anticipations of an advance of 197.00 K. Private payrolls had recorded a revised increase of 100.00 K in the prior month.
Non-farm payrolls in the US registered a rise in September
Non-farm payrolls in the US advanced by 142.00 K in September, compared to market expectations of an advance of 201.00 K. Non-farm payrolls had registered a revised gain of 136.00 K in the previous month.
Japanese labour cash earnings rose less than expected in August
On an annual basis, labour cash earnings registered a rise of 0.50% in Japan, in August, compared to a revised rise of 0.90% in the previous month. Market expectation was for labour cash earnings to advance 0.60%.
Japanese Markit composite PMI fell in September
In September, Markit composite PMI in Japan fell to a level of 51.20. In the prior month, Markit composite PMI had registered a level of 52.90.
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