Express News | Canada's October manufacturing PMI rose to a 20-month high.
Australia's PPI in the third quarter rose by 0.9% quarterly and 3.9% annually in the Economic.
Australia's Bureau of Statistics announced that excluding exports, the Producer Price Index (PPI) for the third quarter of Australia, calculated based on final demand (measuring the change in prices of consumed goods and services without further processing), rose by 0.9% quarterly, down from the previous increase of 1%. On an annual basis, it increased by 3.9%, down from the previous rise of 4.8%. (da/w)~
The manufacturing PMI final value of Australia in October was revised upwards to 47.3, surpassing expectations.
According to Judo Bank/Standard & Poor's Global, after seasonally adjusted, Australia's October Judo Bank manufacturing purchasing managers' index (PMI) final value was revised upwards from the previous value of 46.7 to 47.3, higher than market expectations confirming the initial value fell to 46.6, but still in contraction for nine consecutive months, although the contraction rate has slowed down, overall it is moderate. In October, new orders for commodities in Australia decreased again, continuing the trend of contraction in new orders for nearly two years; at the same time, the decline in export orders is even more significant, mainly affected by reduced demand in major export markets. Due to the inflow of new orders and a decrease in output, procurement activities have also decreased.
Canadian Dollar Continues Struggling After GDP Data
Canada's Economy Flatlined in August, Supporting Expectations for Another 50bp Cut From the Bank of Canada
Canadian GDP in August showed zero growth, expected to increase by 0.3% in September.
Statistics Canada data shows that Canada's real Gross Domestic Product (GDP) in August stagnated, consistent with preliminary estimates and market expectations. Driven by finance, insurance, and public administration, the service industry grew slightly by 0.1%, while the commodity production industry declined by 0.4%, reaching the lowest level since December 2021. The statistics agency predicts that Canada's GDP in September may grow by 0.3%, with growth in finance, insurance, construction, and retail trade offset by declines in mining, quarrying, as well as oil & gas extraction.