Economy
Add as a preferred source on GoogleBoth measures were below September’s readings but stayed above 50, the threshold for expansion.
Both German PMI measures remained above 50 in October, indicating expansion despite lower readings than in September.
The composite PMI registered 52.8, its lowest in two months, and services came in at 51.7. The September readings were 53.8 and 52.9, respectively.
A PMI reading above 50 indicates expansion, while a reading below that level signals contraction. Both measures remained on the expansion side in October, despite their declines from the previous month.
Applications include about US$70 billion in proposed oil-well spending under a program offering 30-year tax, currency and customs protections. An energy analyst warned that a committee without a leader could slow reviews.
FXStreet quoted AUD/USD at 0.7035 late Friday, while the RBA’s 0.7006 reference rate was recorded at 1 a.m. ET (4 p.m. AEDT) Oct. 23.
The proclamation removes 22 tariff classifications and adds others. The revised coverage takes effect Oct. 30.
