"The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index (PMI) posted 55.3 in November, down slightly from 55.7 in October," the IHS Markit announced on Monday.
Key takeaways from the press release
- Although the headline figure dipped to a three-month low, it indicated a solid improvement in the health of the sector that was above the series trend.
- Production continued to increase in November.
- Firms registered a further rise in employment in November.
- The rate of job creation was sharp and the second-fastest in the year-to-date.
- Cost burdens faced by goods producers rose further.
- Business confidence dipped to the weakest since September 2017.
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