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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone manufacturing PMI dropped in October
In the Euro-zone, the flash manufacturing PMI recorded a drop to a level of 52.10 in October, compared to market expectations of a fall to a reading of 53.00. The index had recorded a level of 53.20 in the prior month.
German manufacturing PMI dropped in October
The preliminary manufacturing PMI in Germany recorded a drop to a level of 52.30 in October, lower than market expectations of a fall to a reading of 53.40. The index had registered a reading of 53.70 in the prior month.
Fed’s Beige Book: US economy growing at modest-to-moderate pace
According to the Federal Reserve’s (Fed) latest Beige Book report, the US economy expanded at a modest-to-moderate pace through midOctober, while most districts reported modest increase in wages and prices along with tighter labour market conditions.
US Markit manufacturing PMI unexpectedly advanced in October
The US flash Markit manufacturing PMI unexpectedly rose to a level of 55.90 in October, compared to market expectations of a fall to a reading of 55.30. The index had recorded a reading of 55.60 in the previous month.
US new home sales unexpectedly dropped in September
In the US, new home sales unexpectedly dropped by 5.50%, on MoM basis, to a level of 553.00 K in September, compared to market expectations of 625.00 K. In the prior month, new home sales had recorded a revised reading of 585.00 K.
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