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Tag: manufacturing
US Manufacturing Expansion Extends to Ten Months as PMI Beats Expectations in October
United States manufacturing activity expanded at a faster-than-expected pace in October, driven by a significant surge in factory production and a rebound in inventories. The Institute for Supply Management (ISM) reported that its manufacturing Purchasing Managers’ Index (PMI) rose to 55.5 in October, up from 54.5 in September. The latest reading comfortably beat consensus expectations,…
Financial Markets Wrap: Belgian Budget Crisis Spooks OLO Spreads, Energy Prices Plunge, and US Manufacturing Surges
Markets What financial commentators are increasingly describing as a chronicle of a death foretold finally played out in the European sovereign debt markets, as the Belgian 10-year OLO-swap spread touched the psychological 100-basis-point threshold. The spread surged sharply from its previous Friday close of 94 basis points following the abrupt collapse of multiannual budget negotiations…
UK GDP Expands 0.1% in August, Defying Expectations as Manufacturing Drives Resilient Growth
The United Kingdom economy expanded by 0.1% month-on-month in August, successfully defying market consensus expectations which had forecasted a 0.1% contraction. While the latest reading marks a sharp deceleration from the more robust 0.4% growth rate recorded in July, the figures released by the Office for National Statistics reveal an economy that continues to find…
