US DATA: Nov mfg ISM text: “Economic activity in the manufacturing
sector expanded in November for the 28th consecutive month, and the
overall economy grew for the 30th consecutive month… PMI registered
52.7 percent, an increase of 1.9 percentage points from October’s
reading of 50.8 percent, indicating expansion in the manufacturing
sector for the 28th consecutive month. The New Orders Index increased
4.3 percentage points from October to 56.7 percent, reflecting the
second month of growth after three months of contraction. While the
Prices Index, at 45 percent, increased 4 percentage points from the
October reading of 41 percent, prices of raw materials continued to
decrease (registering below 50 percent) for the second consecutive
month. Respondents cite continuing concerns about the general economic
environment, government regulations and European financial conditions,
but are cautiously more optimistic about the next few months based on
lower raw materials pricing and favorable levels of new orders.” 8 of 18
industries gained.