News
For news between November 18th and November 22nd, 2024, several major financial and market events are expected:
Friday (November 22, 2024):
- Flash Manufacturing PMI:The U.S. and European manufacturing PMI data for November 2024 slowed on weak demand, while France posted sharp declines. By contrast, the South Korea and Saudi Arabian manufacturing improved likely due to modernization and strong exports.
- Flash Services PMI:The U.S. Flash Services PMI for November 2024 scored 55.0, a slight downtick from the 55.2 in October, indicating steady but slightly slower growth in the services sector. This growth is across industries such as banking, IT, and hospitality; the fact that this score sits above 50 means expansion continues but hints at cooling from previous highs.
- Revised UoM Consumer Sentiment: The Revised University of Michigan Consumer Confidence Index for November 2024 edged upwards to 63.0 from 62.6, consistent with steady consumer confidence and cautious optimism in the outlook for the economy. This index reflects consumer perceptions about current and future economic conditions, which can influence spending patterns.
- Revised UoM Inflation Expectations: The Revised UoM Consumer Sentiment Index for November 2024 held steady at 63.0, slightly up from 62.6, signaling stable consumer confidence and cautious optimism about future economic conditions. This level, above the neutral 50, suggests a modestly positive economic outlook that could influence consumer spending.