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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI dropped less than anticipated in October
In the UK, the final manufacturing PMI dropped to a level of 53.70 in October, compared to a reading of 54.10 in the prior month. Markets were anticipating the manufacturing PMI to ease to a level of 53.30.
Euro-zone manufacturing PMI rose more than expected in October
In the Euro-zone, the final manufacturing PMI advanced to a level of 54.80 in October, compared to a reading of 53.70 in the previous month. Market anticipations were for the manufacturing PMI to rise to a level of 54.40.
German manufacturing PMI climbed in October
In Germany, the final manufacturing PMI rose to a level of 58.20 in October, compared to a level of 56.40 in the prior month. Market expectations were for the manufacturing PMI to climb to a level of 58.00.
US ISM manufacturing PMI rose more than expected in October
In the US, the ISM manufacturing index rose to a level of 59.30 in October, compared to a reading of 55.40 in the previous month. Markets were expecting the index to record a rise to a level of 55.80.
US construction spending advanced less than expected in September
In the US, construction spending recorded a rise of 0.30% on a MoM basis in September, compared to a revised rise of 0.80% in the prior month. Markets were expecting construction spending to record a rise of 0.90%.
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