The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI declined in October
In the UK, the services PMI registered a drop to a level of 52.20 in October, lower than market expectations of a fall to a reading of 53.40. In the previous month, the index had registered a level of 53.90.
Euro-zone investor confidence index declined in November
The Euro-zone’s investor confidence index eased to a level of 8.80 in November, compared to a level of 11.40 in the prior month. Markets were anticipating the investor confidence index to ease to a reading of 9.80.
US Markit services PMI rose in October
The final Markit services PMI in the US rose to a level of 54.80 in October, compared to market expectations of a rise to a reading of 54.60. In the previous month, the index had registered a reading of 53.50.
US non-manufacturing PMI fell in October
In the US, the ISM non-manufacturing PMI dropped to a level of 60.30 in October, higher than market expectations of a fall to a reading of 59.10. The index had recorded a reading of 61.60 in the previous month.
RBA left the key interest rate on hold at 1.50%
The Reserve Bank of Australia (RBA), at its November monetary policy meeting, left the official cash rate at record low of 1.50%, citing sluggish wage growth, weak household spending and cooling housing market. Furthermore, the central bank stated that interest rates are expected to remain at record low until next year.
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