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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German factory orders surprisingly rose in October
On a monthly basis, the seasonally adjusted factory orders in Germany recorded an unexpected rise of 0.30% in October, more than market expectations for a drop of 0.40%. Factory orders had climbed by a revised 0.10% in the previous month.
US Markit services PMI dropped in November
The final Markit services PMI in the US eased to a level of 54.70 in November, compared to market expectations of a fall to a reading of 54.40. The index had recorded a reading of 54.80 in the prior month.
US trade deficit expanded in October
Trade deficit in the US widened to $55.50 billion in October, from a revised deficit of $54.60 billion in the previous month. Market expectation was for the nation to post a deficit of $55.00 billion.
US factory orders declined more than expected in October
Factory orders in the US registered a drop of 2.10% in October on a monthly basis, more than market expectations for a drop of 2.00%. In the prior month, factory orders had risen by a revised 0.20%.
US durable goods orders dropped more than expected in October
The final durable goods orders in the US dropped 4.30% in October, on a MoM basis, higher than market expectations for a fall of 2.40%. Durable goods orders had registered a revised drop of 0.10% in the previous month.
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