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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI dropped in September
In the UK, the services PMI in dropped to a level of 49.50 in September, compared to a level of 50.60 in the prior month. Markets were anticipating the services PMI to drop to a reading of 50.30.
Euro-zone retail sales advanced more than expected in August
In the Euro-zone, the seasonally adjusted retail sales recorded a rise of 2.10% on a YoY basis in August, compared to a jump of 2.20% in the previous month. Market expectation was for retail sales to rise 1.90%.
German services PMI fell in September
In Germany, the final services PMI recorded a drop to a level of 51.40 in September, lower than market expectations of a fall to 52.50. In the previous month, services PMI had registered a level of 54.80.
US initial jobless claims unexpectedly rose in the last week
In the US, the seasonally adjusted initial jobless claims climbed unexpectedly to a level of 219.00 K in the week ended 27 September 2019, compared to a revised to a level of 215.00 K in the prior week. Markets were expecting initial jobless claims to remain unchanged.
US ISM non-manufacturing PMI dropped in September
In the US, the ISM non-manufacturing PMI dropped to a level of 52.60 in September, compared to market expectations of a fall to a level of 55.00. In the prior month, the non-manufacturing PMI had registered to a level of 56.40.
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