Economic wrap: firmer activity in US manufacturing - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"US manufacturing PMI (Markit) rose from 51.5 to 53.2 (vs 51.5 expected) – the highest level since October 2015. New order rose, but employment declined.  Overall the headline indicates firmer activity in Q4.

Economic Event Risks Today

ECB President Draghi should give little away as he speaks in Berlin; communications following the October meeting clearly emphasised that key discussions would not be had until their December meeting.

BOE Governor Carney is likely to again emphasise the uncertain outlook and potential risks associated with Brexit as he speaks to the House of Lords.

In the US, house price momentum should persist and consumer confidence should remain robust. The FOMC's Lockhart speaks on community development."