US manufacturing PMI slows down in November

According to the data from IHS Markit, the US manufacturing PMI recorded a decline in November. However, the figures showed a robust overall growth in the manufacturing sector despite the signs of slowing down.

Accordingly, the country’s final Purchasing Managers’ Index (PMI) fell to 53.9 in November compared with 54.6 in October.

The data showed that the country’s output increased, albeit slowly, in November due to greater order volumes and robust demand while new orders rose at the second-fastest pace in nine months. The latest upturn in new orders was attributed to higher demand from domestic and foreign markets.

The data also revealed that exports sales also increased in November while buying activity grew at the strongest pace since February amid larger new order volumes.