The October US services PMI (purchasing managers’ index) report indicates no change in service activity in the United States (QQQ) (SPY) in October 2017. The US services PMI stood at…
In this series, we’ll examine the final services PMI for the US, the UK, Japan, France, Germany, Spain, and the Eurozone for October 2017. We’ll also look at the US consumer confidence level.
Next week, we’ll analyze what the services activity indicates for major developed nations, as both manufacturing and services are crucial parts of every economy.
GDP in the US saw an annualized growth rate of 3% in 3Q17, which beat the market (VOO) (IWM) expectation of 2.5%.
The ADP National Employment Report for October showed strong improvement in private sector employment at 235,000 jobs.
The non-farm payroll report for the US in October indicated a strong improvement in the US labor market after a decline in September.
The UK’s manufacturing PMI stood at 56.3 in October 2017, compared with 55.9 in September 2017, and beat the preliminary market expectation of 55.8.
Japan’s manufacturing PMI stood at 52.8 in October 2017, compared with 52.90 in September 2017, and beat the preliminary market estimation of 52.5.
The Eurozone’s final manufacturing PMI showed solid improvement in October 2017, coming in at 58.5, compared with 58.1 in September.
Spain’s manufacturing PMI rose to 55.8 in October 2017, compared with 54.3 in September 2017. The PMI figure beat the preliminary market estimation of 54.9.
Germany’s final manufacturing PMI showed no change in October, coming in at 60.6, and meeting the preliminary market estimation of 60.5.
The final France manufacturing PMI, remained unchanged in October 2017, standing at 56.1 and falling short of the preliminary market estimate of 56.7.
The final US manufacturing PMI for October stood at 54.6, compared with 53.1 in September, meeting the preliminary market expectations of 54.5.
These economic indicators are important for global investors because they reflect the condition of the global economy.
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The energy sector saw a weaker performance in October 2017.
The Industrial Select Sector SPDR Fund (XLI), which tracks the performance of the industrial sector, rose 1.15% in October 2017.