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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German GDP fell as anticipated in 3Q23
In Germany, GDP dropped 0.10% on a QoQ basis in 3Q23, at par with market expectations and compared to a flat reading recorded in the previous quarter.
German Ifo business climate index rose less than estimated in November
In Germany, the Ifo business climate index advanced to 87.30 in November, compared to a level of 86.90 in the previous month. Markets were expecting the index to rise to 87.50.
German Ifo current assessment index advanced less than anticipated in November
In Germany, the Ifo current assessment index rose to 89.40 in November, compared to a level of 89.20 in the previous month. Market anticipations were for the index to rise to 89.50.
German Ifo expectations index climbed less than forecasted in November
In Germany, the Ifo expectations index advanced to 85.20 in November, compared to a revised level of 84.80 in the previous month. Markets were expecting the index to rise to 85.70.
US S&P Global manufacturing PMI declined more than expected in November
In the US, the S&P Global manufacturing PMI fell to 49.40 in November, compared to a level of 50.00 in the previous month. Markets were expecting the PMI to drop to 49.80.
US S&P Global services PMI unexpectedly rose in November
In the US, the S&P Global services PMI unexpectedly advanced to 50.80 in November, compared to a level of 50.60 in the previous month.
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