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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI rose in January
In the UK, the final manufacturing PMI advanced to a level of 50.00 in January, compared to market expectations of an advance to 49.80. In the prior month, the manufacturing PMI had registered a level of 47.50.
Euro-zone manufacturing PMI advanced in January
In the Euro-zone, the final manufacturing PMI rose to a level of 47.90 in January, higher than market expectations of a rise to 47.80. The manufacturing PMI had recorded a reading of 46.30 in the prior month.
German manufacturing PMI rose in January
In Germany, the final manufacturing PMI advanced to a level of 45.30 in January, compared to a reading of 43.70 in the prior month. Markets were anticipating manufacturing PMI to advance to 45.20.
US ISM manufacturing activity index advanced in January
In the US, the ISM manufacturing activity index climbed to a level of 50.90 in January, compared to market expectations of a rise to a level of 48.00. In the prior month, the ISM manufacturing activity index had registered a reading of 47.20.
RBA keeps key interest rate unchanged
The Reserve Bank of Australia (RBA), in its latest monetary policy meeting, has held its official cash rate steady at 0.75%, as expected. The RBA Governor, Philip Lowe, stated that the easing of monetary policy last year is supporting employment and income growth in Australia and a return of inflation to the medium-term target range.
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