The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI dropped in November
In the UK, the final manufacturing PMI recorded a drop to a level of 48.90 in November. In the previous month, the manufacturing PMI had recorded to a reading of 49.60.
Euro-zone manufacturing PMI surprisingly climbed in November
In the Euro-zone, the final manufacturing PMI recorded an unexpected rise to a level of 46.90 in November, compared to a level of 45.90 in the prior month. Market anticipation was for the manufacturing PMI to fall to a level of 45.70.
German manufacturing PMI rose in November
In Germany, the final manufacturing PMI rose to a level of 44.10 in November, compared to a level of 42.10 in the previous month. Market expectation was for manufacturing PMI to climb to a level of 43.80.
US ISM manufacturing activity index surprisingly dropped in December
In the US, the ISM manufacturing activity index recorded an unexpected drop to a level of 48.10 in December, following a reading of 48.30 in the prior month. Market expectation was for the index to climb to a level of 49.40.
RBA keeps its key interest rate unchanged
The Reserve Bank of Australia (RBA), at its December monetary policy meeting, kept its benchmark interest rate unchanged at 0.75%, as widely expected. Further, RBA Governor, Philip Lowe, stated that the global economic outlook remains “reasonable” and that the downside risks still persists.
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