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The Markit US Flash PMI report is out and it’s a big beat.Click Here For Updates >
The headline reading surged to 54.2 from 52.4 in November.
Economists were expecting a decline to 51.8.
Any reading above 50 signals expansion.
Here are the key points from Markit:
- PMI rises to eight-month high and signals solid improvement in business conditions
- Strongest rates of output and new order growth since April
- Solid rate of job creation
- Input price inflation remains sharp
Here’s a breakdown of the subindices:
Here’s a historical look:
Manufacturers have come under pressure as the fiscal cliff has cause purchasing managers to hold back amid the uncertainty.
Today’s report is welcome news.
The final November PMI came in at 52.8.
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