The Eco Data Update for October 24, 2024, provides a snapshot of various economic indicators across different countries. Let’s take a closer look at the data:
In Australia, the Manufacturing PMI for October came in at 46.6, slightly below the forecast of 46.7. The Services PMI, on the other hand, exceeded expectations with a reading of 50.6 compared to the forecast of 50.5.
Moving on to Japan, both the Manufacturing and Services PMI for October fell short of expectations. The Manufacturing PMI was recorded at 49, lower than the forecast of 49.8. Similarly, the Services PMI came in at 49.3, missing the forecast of 53.1.
In Europe, France saw an uptick in both Manufacturing and Services PMI for October. The Manufacturing PMI rose to 45.1 from the previous reading of 44.6, while the Services PMI increased to 50 from 49.6. Germany, on the other hand, experienced a slight decline in Manufacturing PMI but a marginal increase in Services PMI.
The Eurozone, as a whole, witnessed improvements in both Manufacturing and Services PMI for October. The Manufacturing PMI rose to 45.4 from 45, while the Services PMI increased to 51.5 from 51.4.
In the UK, both Manufacturing and Services PMI for October came in slightly below expectations but remained above the 50 mark, indicating expansion in the sectors.
Shifting focus to the US, Initial Jobless Claims for the week ending October 18 came in at 245K, slightly higher than the previous week’s 241K. The Manufacturing PMI exceeded expectations with a reading of 48.2, while the Services PMI fell short of the forecast.
New Home Sales for September in the US declined slightly, while Natural Gas Storage saw a decrease compared to the previous period.
Overall, the economic indicators provide valuable insights into the performance of different sectors across various countries, offering a comprehensive view of the global economic landscape.
