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ECON: Markit PMI Slightly Higher
Posted to: Micro News
Wednesday, November 21, 2012 9:07 AM
- PMI 52.4 vs 51.0 Consensus
- PMI signals moderate improvement in manufacturing business conditions
- Both output and new order growth quicken to five-month highs
- Strongest rise in employment since July
- Average input prices increase markedly
The Markit Flash U.S. Manufacturing Purchasing Managers’ Index™ (PMI™)1 signalled the strongest improvement in U.S. manufacturing business conditions for five months in November. The preliminary ‘flash’ PMI reading, which is based on around 85% of usual monthly replies, rose to 52.4 from 51.0 in October to indicate a moderate manufacturing expansion overall.
PMI index readings above 50.0 signal an increase or improvement on the prior month, while readings below 50.0 indicate a decrease.
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