US: Markit Manufacturing PMI rises to 56.7 (final) in November as expected
|- Markit Manufacturing PMI in US improved to 56.7 in November.
- US Dollar Index stays in the negative territory below 91.70.
The IHS Markit's Manufacturing PMI for the US rose to 56.7 (final) in November from 53.4 in October to show an ongoing expansion in the manufacturing sector's economic activity at a strengthening pace. This reading matched the flash estimate and analysts' expectation.
Commenting on the data, "the manufacturing recovery kicked up a gear in November with production growth accelerating to the highest for over six years," said Chris Williamson, Chief Business Economist at IHS Markit. "Confidence was boosted by encouraging vaccine news during the month, auguring well for life returning to normal at some point in the coming year, as well as hopes of increased stimulus spending and infrastructure investment following the election.”
Market reaction
The US Dollar Index showed no immediate reaction to this data and was last seen losing 0.25% on the day at 91.63.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.