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ECON: Markit PMI At Six Month High, Signalling Moderate Growth
Posted to: Micro News
Monday, December 03, 2012 9:06 AM

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- PMI 52.8 vs 52.4 Previously, 51.0 in October
- Output 53.5 vs 52.9 Previously, 51.4 October
- New Orders 53.6 vs 52.8 previously, 51.1 October

The expansion of the U.S. manufacturing sector gained traction in November, with the final Markit U.S. Manufacturing Purchasing Managers’ Index™ (PMI™) rising to its highest level in six months. At 52.8, up from 51.0 in October, the PMI was higher than the flash estimate of 52.4, and signalled a moderate improvement in overall business conditions.

PMI index readings above 50.0 signal an increase or improvement on the prior month, while readings below 50.0 indicate a decrease.

Manufacturing output increased further in November, with approximately one-in-five surveyed firms reporting higher production since October. Moreover, output rose solidly over the month, with the rate of growth the fastest since May. Sector data indicated that the strongest output expansion was reported by producers of consumer goods.




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