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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 October
In the UK, the final manufacturing PMI registered a rise to 57.80 in October, compared to a reading of 57.10 in the previous month. Markets were expecting the PMI to advance to a level of 57.70
German retail sales unexpectedly dropped in September
In Germany, retail sales unexpectedly fell 2.50% on a MoM basis in September, compared to a rise of 1.10% in the previous month. Markets were expecting retail sales to record a rise of 0.60%.
US ISM manufacturing PMI fell less than expected in October
In the US, the ISM manufacturing PMI dropped to 60.80 in October, compared to a level of 61.10 in the prior month. Markets were expecting the manufacturing PMI to drop to a level of 60.60.
US construction spending unexpectedly dropped in September
In the US, construction spending fell 0.50% on a MoM basis in September, compared to a revised rise of 0.10% in the previous month. Markets were expecting construction spending to record a rise of 0.40%.
RBA kept its interest rate unchanged
The Reserve Bank of Australia (RBA), in its latest monetary policy decision, held its benchmark interest rate steady at 0.10%, as widely expected.
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