BoC Market Participants Survey

In Canada, benchmark interest rate is set by the Bank of Canada's (BoC) Governing Council. The official interest rate is the Overnight Rate. Since 1996 the Bank Rate is set at the upper limit of an operating band for the money market overnight rate. Previously, from March 1980 until February 1996 the Bank Rate was set at 25 basis points above the weekly average tender rate for 3-month Treasury bills.

ISM Services PMI

50.6

The Non-Manufacturing ISM Report On Business® is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries) this report shows the percentage reporting each response, and the diffusion index. An index reading above 50 percent indicates that the non-manufacturing economy in that index is generally expanding; below 50 percent indicates that it is generally declining. Orders to the service producers make up about 90 percent of the US economy.

ISM Services Prices

57.4

The Non-Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries) this report shows the percentage reporting each response, and the diffusion index. An index reading above 50 percent indicates that the non-manufacturing economy in that index is generally expanding; below 50 percent indicates that it is generally declining. Orders to the service producers make up about 90 percent of the US economy.

ISM Services Business Activity

56.6

The Non-Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries) this report shows the percentage reporting each response, and the diffusion index. An index reading above 50 percent indicates that the non-manufacturing economy in that index is generally expanding; below 50 percent indicates that it is generally declining. Orders to the service producers make up about 90 percent of the US economy.

ISM Services Employment

43.3

The Non-Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries) this report shows the percentage reporting each response, and the diffusion index. An index reading above 50 percent indicates that the non-manufacturing economy in that index is generally expanding; below 50 percent indicates that it is generally declining. Orders to the service producers make up about 90 percent of the US economy.

ISM Services New Orders

52.8

The Non-Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries) this report shows the percentage reporting each response, and the diffusion index. An index reading above 50 percent indicates that the non-manufacturing economy in that index is generally expanding; below 50 percent indicates that it is generally declining. Orders to the service producers make up about 90 percent of the US economy.

S&P Global Services PMI Final

The S&P Global US Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The index tracks variables such as sales, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The headline figure is the Services Business Activity Index, which is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index.

S&P Global Composite PMI Final

50.9

In the United States, the S&P Global Composite PMI Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, tracks business trends across both manufacturing and service sectors. The index is based on data collected from a representative panel of over 800 companies and follows variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity while below 50 points to contraction.

S&P Global Services PMI

44.6

The S&P Global Canada Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Survey responses indicate the direction of change compared to the previous month. The indices vary between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The headline figure is the Services Business Activity Index, which is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously.

S&P Global Composite PMI

The Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index. The weights reflect the relative size of the manufacturing and service sectors according to official GDP data. The Composite Output Index may be referred to as the ‘Composite PMI’ but is not comparable with the headline manufacturing PMI figure.

12-Month BTF Auction

6-Month BTF Auction

3-Month BTF Auction

S&P Global Services PMI

50.5

The Markit Brazil Services PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. The Index tracks variables such as sales, employment, inventories and prices. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease.

S&P Global Composite PMI

50

In Brazil, the Markit Brazil Composite PMI Index tracks business trends across both the manufacturing and service sector activity, based on data collected from a representative panel of around 800 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

BCB Focus Market Readout

In Brazil, interest rate decisions are taken by The Central Bank of Brazil's Monetary Policy Committee (COPOM). The official interest rate is the Special System of Clearance and Custody rate (SELIC) which is the overnight lending rate.

PPI MoM

-0.3%

In the Euro Area, producer prices change measures the average change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.

PPI YoY

In the Euro Area, producer prices change measures the average change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.

Consumer Confidence

77.6

In Spain, the Consumer Confidence survey is made by phone and covers 1,000 individuals aged over 16 who are representative of Spanish society as a whole. The questionnaire focuses on current economic and financial situation, savings intention as well as on expected developments regarding general and personal economic situation and major purchases of durable goods. The index shows the difference between the percentage share of persons that are optimistic and the percentage of persons that are pessimistic. The index measures consumer confidence on a scale of 0 to 200, where 0 indicates extreme lack of confidence, 100 neutrality and 200 extreme confidence.

House Price Index MoM

0.2%

In Norway, housing index refers to House Price Index for existing dwellings in the whole country.

House Price Index YoY

0.5%

In Norway, housing index refers to House Price Index for existing dwellings in the whole country.

S&P Global Services PMI Final

53.4

The S&P Global/CIPS UK Services PMI (Purchasing Managers' Index) is based on data collected from companies in the transport and communication sector, financial intermediation, business services, personal services, computing and IT and hotels and restaurants. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining. .

S&P Global Composite PMI Final

52.1

The UK Composite PMI is a weighted average of the Manufacturing Output Index and the Services Business Activity Index.

HCOB Services PMI Final

48.8

The HCOB Eurozone Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of service providers in Germany, France, Italy, Spain and Ireland. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

HCOB Composite PMI Final

47.6

The HCOB Eurozone Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, is compiled by S&P Global from responses to questionnaires sent to survey panels of manufacturers in Germany, France, Italy, Spain, the Netherlands, Austria, Ireland and Greece, and of service providers in Germany, France, Italy, Spain and Ireland, totaling around 5,000 private sector companies. The index tracks variables such as sales, new orders, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

New Car Sales YoY

9.8%

HCOB Services PMI Final

49.3

The HCOB Germany Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

HCOB Composite PMI Final

47.4

The HCOB Germany Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, tracks business trends across private sector activity. The index tracks variables such as sales, new orders, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

HCOB Services PMI Final

45.7

The HCOB France Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

HCOB Composite PMI Final

44.8

The HCOB France Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, tracks business trends across private sector activity. The index tracks variables such as sales, new orders, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

HCOB Services PMI

49.8

Markit/ADACI Italy Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of around 400 companies based in the Italian service sector. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

HCOB Composite PMI

48.6

The Italy Composite PMI is a weighted average of the Manufacturing Output Index and the Services Business Activity Index. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. For each of the indicators the ‘Report' shows the percentage reporting each response, the net difference between the number of higher/better responses and lower/worse responses, and the ‘diffusion' index. This index is the sum of the positive responses plus a half of those responding ‘the same'. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

HCOB Services PMI

51.5

The S&P Global Spain Services PMI (Purchasing Managers' Index) is based on data compiled from a representative panel of over 300 companies based in the Spanish service sector. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

HCOB Composite PMI

50.4

The Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index. The weights reflect the relative size of the manufacturing and service sectors according to official GDP data. The Composite Output Index may be referred to as the ‘Composite PMI’ but is not comparable with the headline manufacturing PMI figure.

Balance of Trade Prel

Hungary's main exports are machinery and transport equipment, consumer goods, agricultural products, chemicals, apparel, textiles, iron and steel, and wine. Hungary's major imports are machinery and equipment, other manufactures and fuels and electricity. European Union is by far its largest trading partner, accounting for about 79% of exports and 76% of imports.

Services PMI

50

In Sweden, the Swedbank’s Services PMI measures the performance of the service sector and is derived from a survey of 200 companies. The index tracks variables such as New Orders (35 percent of total weight), Business Volume (25 percent), Employment (20 percent) and Suppliers’ Delivery Times (20 percent). A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

S&P Global PMI

49

In South Africa, the IHS Markit South Africa Purchasing Managers Index tracks business trends across private sector activity, including mining, manufacturing, services, construction and retail based on data collected from a representative panel of around 400 companies. The index tracks variables such as new orders, output, employment, supplier delivery times, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

Balance of Trade

20400000000

Germany has run regular trade surpluses since 1952, primarily due to strong exports of vehicles and other machinery. The largest trade surpluses are recorded with the US, France, the UK, Austria, Switzerland, Italy, Sweden, Poland, and Spain; while the biggest trade deficits were recorded with China, Ireland, Norway, Vietnam, Russia, Bangladesh, the Netherlands, Japan, Malaysia and South Africa.

Exports MoM

3.7%

Germany is the third largest exporter in the world, with exports accounting for almost half of its economic output. Germany's main exports are: motor vehicles, trailers and semi-trailers (15 percent of total exports); machinery and equipment (14 percent); chemicals and chemical products (10 percent); computer, electronic and optical products (9 percent); basic pharmaceutical products and pharmaceutical preparations (7 percent); electrical equipment (7 percent); basic metals (5 percent); food products (4 percent); rubber and plastic products (4 percent); fabricated metal products, except machinery and equipment (3 percent) and other transport equipment (3 percent). Main export partners are: the US (9 percent of the total exports), China (8 percent), France and the Netherlands (7 percent each), Poland (6 percent), Italy, Austria and the United Kingdom (5 percent each), Switzerland and Belgium (4 percent each), Czech Republic and Spain (3 percent each).

Imports MoM

1.9%

Germany's main imports are: computer, electronic and optical products (11 percent of total imports); motor vehicles, trailers and semi-trailers (10 percent); chemicals and chemical products (8 percent); machinery and equipment (8 percent); electrical equipment (7 percent); basic metals (6 percent); crude petroleum and natural gas (6 percent); basic pharmaceutical products and pharmaceutical preparations (6 percent); and food products (4 percent). Main import partners were China (12 percent of total imports), the Netherlands (9 percent), the US and Poland (6 percent each), Italy and France (5 percent each), Belgium, Czech Republic, Switzerland and Austria (4 percent each).

Inflation Rate MoM

2.93%

Inflation Rate MoM measures month over month change in the price of goods and services.

PPI MoM

1.14%

In Turkey, the Producer Price Inflation MoM measures a month-over-month change in the price of goods and services sold by manufacturers and producers in the wholesale market.

PPI YoY

44.22%

Producer prices change refers to year over year change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period.

Inflation Rate YoY

64.77%

In Turkey, the most important categories in the Consumer Price Index are Food & Non-alcoholic Beverages (25% of the total weight); Transportation (17%); Housing, Water, Electricity, Gas & Other Fuels (14%). Others include: Furnishings, Household Equipment & Routine Maintenance (9%); Hotels, Cafes & Restaurants (7%); Clothing & Footwear (6%); and Miscellaneous Goods & Services (5%). The index also includes: Alcoholic Beverages & Tobacco (4%), Communications (4%) and Education (2%).

CPI

1859.38

In Turkey, the most important categories in the consumer price index are food and non-alcoholic beverages (23.7 percent of total weight); housing, water, electricity, gas and other fuels (15.9 percent of total weight) and transportation (14.3 percent). Others include: furnishings, household equipment and routine maintenance (8 percent); hotels, cafes and restaurants (7.5 percent); clothing and footwear (7.4 percent); alcoholic beverages and tobacco (5 percent). The index also includes miscellaneous goods and services (4.7 percent); communication (4.4 percent); recreation and culture (3.8 percent); health (2.7 percent) and education (2.6 percent).

S&P Global Services PMI

56.2

The Markit Russia Services PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 300 private service sector companies. The Index tracks variables such as sales, employment, inventories and prices. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease.

S&P Global Composite PMI

55.7

In Russia, the Markit Russia Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 300 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

S&P Global Composite PMI

58.5

In India, the Nikkei India Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index and tracks business trends across private sector activity, based on data collected from a representative panel of around 800 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining. .

S&P Global Services PMI

59

The IHS Markit India Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

Retail Sales MoM

0.5%

In Singapore, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Singapore, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales YoY

2.5%

In Singapore, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

GDP Growth Rate QoQ

1.6%

Indonesian economy is the largest in South East Asia. The country has been growing steady in the last few years mostly due to high domestic consumption and growth in exports of manufactured products and commodities.

GDP Growth Rate YoY

4.94%

Indonesia is the largest economy in South East Asia. Industry accounts for the largest share of GDP (46.5 percent of total GDP). Within industry, the most important is manufacturing, which has been one of the main growth engines (24 percent of total output). Mining and quarrying accounts for 12 percent, construction for 10 percent and electricity, gas and water supply for 0.75 percent. Services constitute 38 percent of total GDP. Within services, the most important are: trade, hotel and restaurants (around 14 percent of GDP); transport and communication (7 percent of GDP); finance, real estate and business services (7 percent of GDP) and government services (6 percent). Agriculture accounts for the remaining 15 percent.

Full Year GDP Growth

5.31%

Indonesia is the largest economy in South East Asia. Industry accounts for the largest share of GDP (46.5 percent of total GDP). Within industry, the most important is manufacturing, which has been one of the main growth engines (24 percent of total output). Mining and quarrying accounts for 12 percent, construction for 10 percent and electricity, gas and water supply for 0.75 percent. Services constitute 38 percent of total GDP. Within services, the most important are: trade, hotel and restaurants (around 14 percent of GDP); transport and communication (7 percent of GDP); finance, real estate and business services (7 percent of GDP) and government services (6 percent). Agriculture accounts for the remaining 15 percent.

Caixin Services PMI

52.9

The Caixin China General Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private service sector companies. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

Caixin Composite PMI

52.6

In China, the Caixin China Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 400 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

Balance of Trade

11437000000

Australia has been recording consistent trade surpluses since 2017 due to rise in a resource exports like natural gas, metal ores and minerals, coal, coke and briquettes, and rural goods such as meat and cereals. The biggest trade surpluses are recorded with China, Hong Kong and Japan, and New Zealand while the biggest trade deficits are with the United States, Singapore, South Korea, Malaysia, and Thailand.

Imports MoM

-7.9%

Australia imports mainly machinery and transport equipment (40 percent of total imports), of which road vehicles account for 12 percent, industrial machinery for 6 percent, electrical machinery for 5 percent and telecommunications and sound recording for 5 percent.The country also imports: petroleum (11 percent); manufactured goods (12 percent); chemicals and related products (10 percent); and food and live animals (5 percent). Main import partners are China (23 percent of total imports), the US (11 percent), Japan (7 percent), South Korea, Thailand and Germany (5 percent each) and Malaysia (4 percent).

Exports MoM

1.7%

Rich in natural resources, Australia is a major exporter of commodities. Metalliferous ores and metal scrap account for 29 percent of total exports; coal, coke and briquettes for 15 percent; and gas for 7 percent. The country also exports: food and live animals (14 percent), mainly meat (5 percent) and cereals (4 percent); manufactured goods (6 percent), mainly non-ferrous metals (4 percent); and machinery and transport equipment (6 percent). Australia's largest export markets are China (32 percent of total exports), Japan (16 percent), South Korea (7 percent), the US (5 percent), India (4 percent), New Zealand, Singapore and Taiwan (3 percent each).

ANZ-Indeed Job Ads MoM

0.1%

In Australia, job advertisements measure the number of jobs advertised in the major daily newspapers and internet sites covering the capital cities.

S&P Global PMI

51.3

The S&P Global Hong Kong Purchasing Managers’ Index measures the performance of the private sector and is derived from a survey of 300 companies. The Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the private sector activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Jibun Bank Services PMI Final

51.5

The au Jibun Bank Japan Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

Jibun Bank Composite PMI Final

50

The au Jibun Bank Japan Composite PMI Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, tracks business trends across private sector activity based on data collected from a representative panel of around 800 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

S&P Global PMI

55.7

The S&P Global Singapore Purchasing Managers’ Index™ (PMI™) is based on data compiled from monthly replies to questionnaires sent to executives in over 400 private sector companies including manufacturing, services, construction and retail. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. An index reading above 50 indicates an overall increase in private sector activity, below 50 an overall decrease.

TD-MI Inflation Gauge MoM

1%

In Australia, the Melbourne Institute Monthly Inflation Gauge estimates month-to-month price movements for a wide range of goods and services across the capital cities of Australia. It aims to provide financial markets and policy-makers with regular updates on trends in inflation. The report is based on the Australian Bureau of Statistics’ methodology for calculating the quarterly consumer price index.

Constitution Day

Judo Bank Services PMI Final

47.1

The Judo Bank Australia Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

Judo Bank Composite PMI Final

46.9

The Judo Bank Australia Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, is compiled by S&P Global from responses to questionnaires sent to survey panels of manufacturers and service providers in Australia. The index tracks variables such as sales, new orders, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

Foreign Exchange Reserves

In South Korea, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.