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US manufacturing slows down in November: Markit

by ChemOrbis Editorial Team -
  • 21/11/2014 (15:00)
According to a preliminary Purchasing Managers’ Index (PMI) released by Markit Economics, US manufacturing edged down in November, posting the slowest rate of growth since January. The country’s PMI declined to a seasonally adjusted reading of 54.7 in November from a reading of 55.9 in October. Any reading above 50 indicates expansion. Initial forecasts called for an increase to 56.4 in a survey conducted by Reuters.

Lower export orders and weaker new business growth were blamed for the decrease in the country’s PMI index. The country’s output fell to a reading of 55.6 from a reading of 57.8 reported in October, the weakest reading since the winter related downturn in January. A measure of new orders also fell for the third straight month, according to the report.
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