China’s Services Sector Growth Accelerates in October According to Caixin PMI
Data released by S&P Global on Tuesday showed that the Caixin Services PMI for China rose to 52.0 points in October, marking its highest level since July. This reading came in above expectations of 50.5 points and higher than September’s reading of 50.3 points.
Topic
Australia
Reserve Bank of Australia Keeps Interest Rates Unchanged Despite Inflationary Pressures
The Reserve Bank of Australia decided in its meeting on Tuesday, November 5, 2024, to keep the main interest rate unchanged at 4.35%, the highest level in 13 years. This decision comes amid persistent high inflation and uncertainty in global economic outlooks. The bank stated that “core inflation remains very high” and that “it will take a considerable amount of time before inflation returns to the target range.” The bank also stressed the need to remain vigilant regarding upward inflation risks, indicating that future monetary policy decisions have not been ruled out.
Britain
Decline in New Car Registrations in the UK Despite Rise in Electric Vehicle Sales Supported by Government Incentives
The United Kingdom saw a decline in new car registrations for the second time this year, falling by 6% in October to 144,288 units, according to data from the Society of Motor Manufacturers and Traders (SMMT). However, electric vehicle sales surged by 24.5%, supported by the availability of new models. Approximately 300,000 new electric cars hit British roads this year, representing 18.1% of the total market, up from last year but still short of the 22% target.
China’s Services Sector Growth Accelerates in October