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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI climbed less than expected in November
In the UK, the final manufacturing PMI climbed to 58.10 in November, compared to a reading of 57.80 in the previous month. Market anticipations were for the manufacturing PMI to advance to 58.20.
Eurozone manufacturing PMI rose less than anticipated in November
In the Eurozone, the final manufacturing PMI recorded a rise to 58.40 in November, compared to a level of 58.30 in the previous month. Markets were expecting the manufacturing PMI to climb to 58.60.
German manufacturing PMI fell more than expected in November
In Germany, the final manufacturing PMI registered a drop to 57.40 in November, compared to a reading of 57.80 in the previous month. Markets were expecting the manufacturing PMI to record a drop to a level of 57.60.
Fed’s Beige Book: US economy growing at a ‘modest to moderate pace’
According to the US Federal Reserve’s (Fed) latest Beige Book report, the US economy grew at a “modest to moderate” pace this fall, with supply-chain issues and labour shortages affecting growth, despite strong demand. Report indicated that tight labour markets meant wages were also rising at a “robust” pace across most of the Fed’s 12 districts. Further, the Beige Book reported that strong demand generally allowed firms to increase prices with little pushback, though contractual obligations held back some firms from rising prices.
US ISM manufacturing activity index rose more than anticipated in November
In the US, the ISM manufacturing activity index advanced to 61.10 in November, compared to a level of 60.80 in the prior month. Markets were expecting the index to record an advance to a level of 61.00.
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