Global Economic Update

10:56, 02 February

Global Economic Update

  • In the UK, the manufacturing PMI fell surprisingly to a level of 55.30 in January, compared to a revised reading of 56.20 in the previous month. The non-seasonally adjusted house prices rose higher-than- expected 3.20% on a YoY basis in January, compared to climb of 2.60% in the last month.
  • In the Eurozone, the final manufacturing PMI dropped to 59.60 in January, compared to a level of 60.60 in December.
  • In Germany, the final manufacturing PMI eased to 61.10 in January, compared to a level of 63.30 in December.
  • In France, the Markit final manufacturing PMI fell to 58.40 in January, compared to a level of 58.80 in the last month.
  • In Italy, the Markit manufacturing PMI surged unexpectedly to 59.00 in January, compared to a reading of 57.40 in the prior month.
  • In the US, the ISM manufacturing activity index dropped less-than-expected to 59.10 in January, compared to a revised level of 59.30 in December. The final Markit manufacturing PMI surged to 55.50 in January, compared to a level of 55.10 in the previous month. The preliminary non-farm business productivity fell surprisingly 0.10% on a QoQ basis in 4Q 2017, compared to an increase of 3.00% in the last quarter. The seasonally adjusted continuing jobless claims rose unexpectedly to 1953.00 K in the week ended 20 January 2018, compared to a revised reading of 1940.00 K in the prior week. Construction spending climbed more-than-expected 0.70% in December, compared to a rise of 0.60% in November. The seasonally adjusted initial jobless claims dropped surprisingly to a level of 230.00 K in the week ended 27 January 2018, compared to a revised level of 231.00 K in the previous week.
  • In Australia, the producer price index surged 1.70% on a YoY basis in 4Q 2017, compared to an advance of 1.60% in the prior quarter.