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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI rose more than expected in December
In the UK, the flash manufacturing PMI registered a rise to 57.30 in December, compared to a reading of 55.60 in the previous month. Markets were expecting the manufacturing PMI to climb to 55.90.
Euro-zone manufacturing PMI unexpectedly advanced in December
In the Euro-zone, the preliminary manufacturing PMI unexpectedly rose to a level of 55.50 in December, compared to a level of 53.80 in the prior month. Market expectations were for the manufacturing PMI to drop to 53.00.
German manufacturing PMI unexpectedly rose in December
In Germany, the preliminary manufacturing PMI unexpectedly advanced to a level of 58.60 in December, compared to a reading of 57.80 in the previous month. Market anticipations were for the manufacturing PMI to fall to 56.40.
Fed kept its key interest rates steady
The US Fed, in its monetary policy decision, kept its benchmark interest rate unchanged at 0.25%. Further, policymakers indicated that the central bank would continue to purchase at least $120 billion of bonds each month until further progress in the Committee’s maximum employment and price stability goals.
US Markit manufacturing PMI dropped less than anticipated in December
In the US, the preliminary Markit manufacturing PMI registered a drop to 56.50 in December, compared to a level of 56.70 in the previous month. Markets were expecting the Markit manufacturing PMI to fall to 55.70.
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