The flash reading for Markit’s November U.S. purchasing manager’s index surged to 54.3 versus the consensus estimate of
It’s also up 51.8 from October.
The reading is the highest since March. Output climbed to the highest reading since in nine months. But hiring slowed.
At right is the full reading with our highlights.
The three-month average, which gives an indication of the underlying trend, was at 52.9, “consistent with an ongoing modest improvement in manufacturing business conditions.”
The U.S. manufacturing sector “ground to a near standstill in October,” though any effect from the government shutdown was seen as temporary.
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