Guardian Stockbrokers Key Economic News Monday 7 November 2022

The key points from today’s economic news, brought to you by Guardian Stockbrokers.

UK construction PMI unexpectedly advanced in October

In the UK, the S&P Global construction PMI unexpectedly climbed to 53.20 in October, compared to a reading of 52.30 in the prior month. Markets were expecting the construction PMI to fall to 50.50.

ECB President suggests restrictive rate hikes to curb inflation

European Central Bank (ECB) President, Christine Lagarde stated that the central bank may need to raise the interest rates into restrictive territory to bring the inflation to its 2% target.

German factory orders fell more than expected in September

In Germany, factory orders fell 4.00% on a MoM basis in September, compared to a revised fall of 2.00% in the prior month. Market expectations were for factory orders to record a fall of 0.50%.

US nonfarm payrolls advanced more than anticipated in October

In the US, nonfarm payrolls unexpectedly climbed by 261.00 K in October, compared to a revised reading of 315.00 K in the previous month. Market anticipations were for nonfarm payrolls to rise by 200.00 K.

US unemployment rate rose more than expected in October

In the US, unemployment rate rose 3.70% in October, compared to a rate of 3.50% in the prior month. Markets were expecting unemployment rate to record a rise of 3.60%

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Comments

1. Newmagazinresearch says:

   November 7, 2022 at 9:43 am

   Thanks For This Informative Content.

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