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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI surprisingly advanced in October
The manufacturing PMI unexpectedly climbed to a level of 56.30 in October, in the UK, compared to market expectations of a drop to 55.90. In the previous month, the manufacturing PMI had recorded a revised level of 56.00.
UK house prices rose more than expected in October
The non-seasonally adjusted house prices in the UK climbed 2.50% in October on an annual basis, compared to a revised advance of 2.30% in the prior month. Markets were anticipating house prices to advance 2.20%.
UK house prices advanced as expected in October
On a MoM basis, the seasonally adjusted house prices recorded a rise of 0.20% in October, in the UK, in line with market expectations. In the previous month, house prices had registered a revised rise of 0.40%.
Swiss SVME manufacturing PMI surprisingly rose in October
In October, the SVME manufacturing PMI unexpectedly climbed to 62.00 in Switzerland, compared to a level of 61.70 in the prior month. Market expectation was for the SVME manufacturing PMI to fall to a level of 61.30.
US Fed left interest rates unchanged, kept door open for a December rate hike
The US Fed, at its recent policy meeting, decided to keep its benchmark interest rate target between 1.00% and 1.25%, as widely expected by market participants, and struck a positive tone on the current state of the US economy. In its policy statement, the central bank highlighted that the US labour market has continued to strengthen and that economic growth has been rising at a robust pace, despite some disruptions caused by recent hurricanes, suggesting that an interest rate hike is most likely in December.
US ISM backlog orders eased in October
ISM backlog orders eased to 55.00 in October, in the US, compared to a reading of 58.00 in the previous month.
Private sector employment in the US rose in October
The private sector employment registered a rise of 235.00 K in the US, in October, higher than market expectations of an advance of 200.00 K. The private sector employment had recorded a revised increase of 110.00 K in the prior month.
US ISM production declined in October
ISM production eased to 61.00 in the US, in October, compared to a level of 62.20 in the prior month.
US construction spending surprisingly advanced in September
On a MoM basis, construction spending recorded an unexpected rise of 0.30% in the US, in September, higher than market expectations for a fall of 0.20%. Construction spending had risen by a revised 0.10% in the previous month.
US Markit manufacturing PMI advanced in October
In the US, the final Markit manufacturing PMI climbed to 54.60 in October, compared to market expectations of an advance to a level of 54.50. In the prior month, the Markit manufacturing PMI had registered a reading of 53.10. The preliminary figures had indicated a rise to 54.50.
US ISM inventories eased in October
ISM inventories fell to a level of 48.00 in the US, in October. In the previous month, ISM inventories had recorded a reading of 52.50.
US ISM new orders dropped in October
ISM new orders in the US recorded a drop to 63.40 in October. In the prior month, ISM new orders had recorded a reading of 64.60.
US ISM prices paid index dropped in October
In the US, the ISM prices paid index eased to 68.50 in October, compared to market expectations of a fall to 67.80. In the previous month, the ISM prices paid index had registered a level of 71.50.
US ISM manufacturing activity index slid in October
The ISM manufacturing activity index recorded a drop to 58.70 in the US, in October, compared to a level of 60.80 in the previous month. Markets were anticipating the ISM manufacturing activity index to fall to a level of 59.50.
US mortgage applications fell in the last week
In the US, mortgage applications slid 2.60% on a weekly basis, in the week ended 27 October 2017. In the prior week, mortgage applications had recorded a drop of 4.60%.
Japanese monetary base rose in October
On an annual basis, the monetary base recorded a rise of 14.50% in Japan, in October. The monetary base had risen 15.60% in the prior month.
Foreign investors remained net buyers of Japanese stocks in the previous week
Foreign investors remained net buyers of ¥697.00 billion worth of Japanese stocks in the week ended 27 October 2017, as compared to being net buyers of a revised ¥683.30 billion worth of Japanese stocks in the prior week.
Japanese investors turned net sellers of foreign bonds in the previous week
Japanese investors turned net sellers of ¥1084.20 billion worth of foreign bonds in the week ended 27 October 2017, from being net buyers of a revised ¥11.20 billion worth of foreign bonds in the prior week.
Japanese investors remained net buyers of foreign stocks in the previous week
Japanese investors remained net buyers of ¥369.50 billion worth of foreign stocks in the week ended 27 October 2017, as compared to being net buyers of ¥55.10 billion worth of foreign stocks in the prior week.
Japanese vehicle sales fell in October
Vehicle sales registered a drop of 4.70% on an annual basis in Japan, in October. In the previous month, vehicle sales had risen 0.40%.
Foreign investors turned net buyers of Japanese bonds in the previous week
Foreign investors turned net buyers of ¥81.70 billion worth of Japanese bonds in the week ended 27 October 2017, from being net sellers of a revised ¥421.60 billion worth of Japanese bonds in the prior week.
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