Global economic releases showcase uncertainty moving ahead
Day in Review
South Korea’s GDP was up 0.4% quarter over quarter and 2% year over year for the 3rd quarter of 2019. Overall consumption was up 0.5%, with private consumption up 0.2% while government consumption was up1.4%. Investment and gross capital formation were down -4.2%, exports were up 4.6% while imports were up 1.2%.
PMI figures for the construction sector show a contraction in construction business activity in the U.K for the month of November.
The construction PMI came at 45.3 points higher than last month’s 44.2 points and higher than survey expectations putting the figure around 44.5 points.
Nevertheless, the PMI figure is still below 50 points highlighting the difficulty that the construction sector is experiencing since the Brexit vote.
The producer price index for the Eurozone was up 0.1% for the month of October coming above survey expectations of 0%. On a yearly basis, the producer price index was down -1.9%.