China’s manufacturing purchasing managers’ index saw a broad-based decline in October, while the non-manufacturing PMI managed to edge back into expansionary territory. Industrial activity has held up well despite soft PMI data year-to-date. Even so, this steeper downturn may raise some concerns
Upside inflation risks are receding while worries about the jobs market are mounting. The Federal Reserve is expected to respond with another 25bp interest rate cut on Wednesday, and could also bring QT to a conclusion
The US Dollar has been enjoying a renaissance of sorts this week with gains largely down to US data not being bad at all.
Looking at the data this week, the sales rate for US new homes spiked back to levels last seen in early 2022.
A week dominated by central bank communications and seasonal dynamics kept investors on edge, even as the UN General Assembly passed without major geopolitical surprises except for some memorable US President Trump quotes.
China’s manufacturing purchasing managers’ index was generally encouraging, rebounding to a six-month high in September. Yet, the non-manufacturing PMI disappointed by falling back to neutral levels
The economy remains on track to see a small improvement in GDP growth in the third quarter as uncertainty fades and big shocks to trade have been avoided
Unlike financial markets, we still think the odds are tilted slightly in favour of another Bank of England rate cut in November. Nothing is guaranteed, though, and these are the key data points that will decide the fate of the Bank's easing cycle later this year
Hungary's recent labour market data shows a seasonal improvement, resulting in a record-high employment rate. The situation for employers is growing hotter as wage expectations remain high, but the economy struggles to thrive
