The November Markit PMIs for the US
- Prior was 50.6
- Manufacturing 52.2 vs 51.4 expected -- seven month high
- Prior manufacturing index was 51.3
- Composite PMI 51.9 vs 50.9 prior
Good numbers and USD/JPY gets a quick pop.
Details of the report:
- Manufacturing new orders 53.0 vs 52.3 prior
- Composite employment 50.6 vs 48.1 prior
"A welcome upturn in the headline index from the flash PMI adds to evidence that the worst of the economy's recent soft patch may be behind us. Output of the combined manufacturing and service sectors rose in November at the fastest rate since July, spurred by improved inflows of new business," said Chris Williamson, Chief Business Economist at IHS Markit. "However, although improving, the picture of current business conditions remains subdued by standards seen over the past decade and the business mood sombre in relation to prospects for the year ahead. The latest survey results are indicative of GDP rising at a modest annualised rate of just 1.5%, with payrolls rising at a monthly clip of approximately 100,000."
