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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE keeps key interest rate unchanged
The BoE, at its November monetary policy meeting, kept its key interest rate steady at 5.25%, as widely expected. However, the central bank stated that borrowing costs would likely remain at elevated level for longer period.
Euro-zone HCOB manufacturing PMI dropped less than expected in October
In the Euro-zone, the HCOB manufacturing PMI fell to 43.10 in October, compared to a level of 43.40 in the previous month. Markets were expecting the PMI to drop to 43.00.
German HCOB manufacturing PMI rose more than anticipated in October
In Germany, the HCOB manufacturing PMI advanced to 40.80 in October, compared to a level of 39.60 in the previous month. Markets were expecting the PMI to rise to 40.70.
German unemployment rate advanced as expected in October
In Germany, the unemployment rate rose to 5.80% in October, at par with market expectations and compared to 5.70% in the previous month.
US initial jobless claims unexpectedly rose in the week ended 27 October 2023
In the US, initial jobless claims unexpectedly advanced to 217.00K in the week ended 27 October 2023, compared to a revised level of 212.00K in the prior week.
US factory orders climbed more than expected in September
In the US, factory orders rose 2.80% on a MoM basis in September, compared to a revised rise of 1.00% in the previous month. Markets were expecting factory orders to rise 2.40%.
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