In the US, the Philadelphia Fed Business Activity Index lifted from 20.7 to 40.8 in October -- its highest reading since 1993. The new orders sub-index was at the highest level in 26 years. US Consumer prices were unchanged in October to be 1.7 per cent higher than a year ago. The tame result was driven by a slide in energy prices (-1.9 per cent) and gasoline prices (-3 per cent) in October.
Excluding food and energy, prices were up 0.2 per cent to be up 1.8 per cent on a year ago.