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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI dropped less than anticipated in December
In the UK, the final services PMI dropped to 53.60 in December, compared to a reading of 58.50 in the prior month. Market expectations were for the services PMI to fall to a level of 53.20.
German factory orders rose more than expected in November
In Germany, the seasonally adjusted factory orders climbed 3.70% on a MoM basis in November, compared to a revised drop of 5.80% in the previous month. Markets were expecting factory orders to record a rise of 2.10%.
German CPI advanced more than anticipated in December
In Germany, the flash CPI registered a rise of 5.30% on a YoY basis in December, compared to an advance of 5.10% in the prior month. Markets were expecting the CPI to record an advance of 5.20%.
US factory orders rose more than expected in November
In the US, factory orders rose 1.60% on a MoM basis in November, compared to a revised rise of 1.20% in the prior month. Markets were expecting factory orders to record a rise of 1.50%.
US number of initial jobless claims unexpectedly rose in the week ended 31 December 2021
In the US, number of initial jobless claims unexpectedly rose to 207.00 K in the week ended 31 December 2021, compared to a revised level of 200.00 K in the previous week. Market expectations were for the initial jobless claims to ease to a level of 197.00 K.
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