The S&P Global US Manufacturing PMI was revised higher to 49.7 in November 2024 from a preliminary reading of 48.8, and compared with 48.5 in October, indicating a near-stabilization of the manufacturing sector. The rate of decline in new orders slowed sharply, while stronger confidence in the future prompted companies to add staff. However, output continued to be cut. Meanwhile, the rate of input cost inflation weakened further and was the slowest in a year. In contrast, output prices rose at a slightly faster pace.
"Optimism about the year ahead has risen to an unprecedented level in two and a half years, supported by the lifting of uncertainty seen in the run-up to the election, as well as the prospect of stronger economic growth and greater protectionism from foreign competition under the new Trump administration in 2025," said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence.
Source: Trading Economics
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