Wednesday, 4 December 2013

China services and UK construction expand, stocks fall again

China's economy showed further signs of resilience on Tuesday. Data from the National Bureau of Statistics showed that the official PMI for the non-manufacturing sector fell to 56.0 in November from 56.3 in October, indicating continued expansion.

It is the UK, though, that has been providing some really hot economic numbers recently. That trend continued on Tuesday as the Markit/CIPS construction PMI jumped to 62.6 in November from 59.4 in October.

However, positive economic data have not been able to boost markets recently. That trend also continued on Tuesday. From Reuters:

Fear that the Federal Reserve will scale back its stimulus as the U.S. economy recovers hit world stock markets on Tuesday, with European equities falling the most since August, while safe havens such as the yen and Treasuries rose...

On Wall Street, stocks ended lower for a third straight session.

No comments:

Post a Comment