International News (Issue 376) – 6 November 2015

China

Data indicated China’s service activity picked up pace in October, indicating recent stimulus measures may be working.

Wednesday’s data showed China’s PMI rose to 52.0 in October compared to its September PMI figure of 50.5, which was at 14 month lows.

The increase in PMI from September through to October suggests the economy has begun stabilizing which clearly reduces the need for any further stimulus in the near term.

United States

USA PMI data was also released to the market this week and continued to show signs of strong performance.

The seasonally adjusted Composite PMI index posted 55.0 in October and whilst unchanged from September, still indicates a strong growth rate.

Employment continued to rise, whilst input costs continued its downward trend providing further support for a raising of interest rates at the Feds December meeting.

The market is now pricing in a 56% chance of a raising of the interest rates when the Fed meet in 2 weeks.

Disclaimer:  This information has been prepared by Primestock Securities Limited ABN 67 089 676 068, AFSL 239180 (“Prime”). Prime accepts no obligation to correct or update the information or opinions in it. This information does not take into account your objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate to your situation. It is recommended that you obtain financial, legal and taxation advice before making any financial investment decision. Prime is bound by the Australian Privacy Principles for the handling of personal information.

SPEAK WITH US TODAY

A unique and personal service approach and support for all your business advisory and personal wealth management needs

Request a free consultation

A unique and personal service approach to support all your business advisory and personal wealth management needs.

Request a free consultation