US S&P Manufacturing PMI Improves to 48.8 in November, Composite PMI Rises to 55.3
US S&P Global Composite PMI rose to 55.3 in November's flash estimate from 54.1 in October, showing that the business activity in the US' private sector continued to expand at an accelerating pace.
S&P Global Manufacturing PMI improved to 48.8 from 48.5, highlighting an ongoing contraction, while the Services PMI rose to 57 from 55.
Assessing the survey's findings, "the business mood has brightened in November, with confidence about the year ahead hitting a two-and-a-half year high," Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said.
"The prospect of lower interest rates and a more probusiness approach from the incoming administration has fueled greater optimism, in turn helping drive output and order book inflows higher in November," Williamson added.
Source : FXStreet
