Guardian Stockbrokers Key Economic News Tuesday 3 December 2019

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

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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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