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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
- 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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