US Manufacturing PMI down to 53.8

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Friday, Nov 24 2017

US Manufacturing PMI down to 53.8

November data pointed to another solid increase in U.S. private sector output, supported by sustained growth in both manufacturing and services activity. At 54.6, the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index was above the 50.0 no-change threshold, but eased from 55.2 in October. As a result, the latest reading signalled the slowest expansion of private sector output since July. Despite a softer upturn in business activity, survey respondents indicated a robust and accelerated rise in new order volumes during November.

The rate of new business expansion was also comfortably above the average seen in the first half of 2017. Signs of stronger demand helped to underpin another solid rise in payroll numbers across the private sector economy. Anecdotal evidence linked sustained job creation to improved sales volumes, greater efforts to boost operating capacity and longterm business development plans. Manufacturers are particularly confident about the year ahead growth outlook, with the degree of positive sentiment reaching its highest since January 2016.

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