The activity in the manufacturing sector in the United States increased in November, according to the latest data from IHS Markit released on Monday.
The Purchasing Managers Index (PMI) came in at 52.6 in November, up from 51.3 in October.
“A third consecutive monthly rise in the PMI indicates that US manufacturing continues to pull out of its soft patch. New orders and production are rising at the fastest rates since January, encouraging increasing numbers of firms to take on more workers. Exports are also back on a rising trend, firms are buying more inputs and re-building inventories, adding to the signs of improvement,” Chris Williamson, chief business economist at IHS Markit, stated.
The rate of output growth hit a 10-month high, while new orders volumes rose at the fastest pace since the beginning of the year, the report noted.
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