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Prior was 54.8Manufacturing 51.9 vs 52.0 expPrior manufacturing 52.5Composite PMI 54.8 vs 54.5 priorPrior composite 54.6Chris Williamson, Chief Business Economist at S&P
Global Market Intelligence:
“The flash PMI data point to a relatively buoyant US
economy in November, signalling annualised GDP growth
of about 2.5% so far in the fourth quarter. The upturn also
looks encouragingly broad-based for now, with output
rising across both manufacturing and the vast services
economy.
“A marked uplift in business confidence about prospects
in the year ahead adds to the good news. Hopes
for further interest rate cuts and the ending of the
government shutdown have boosted optimism alongside
a broader undercurrent of improved economic optimism
and reduced concerns over the political environment.
“However, manufacturers reported a worrying
combination of slower new orders growth and a record
rise in finished goods stock. This accumulation of unsold
inventory hints at slower factory production expansion in
the coming months unless demand revives, which could
in turn feed through to lower growth in many service
industries.
“Furthermore, although jobs continued to be created in
November, the rate of hiring continues to be constrained
by worries over costs, in turn linked to tariffs. Both
input costs and selling prices rose at increased rates
in November, which will be of concern to the inflation
hawks.”
This article was written by Adam Button at investinglive.com.
💡 DMK Insight
The latest PMI data shows a mixed bag, and here’s why that matters: the manufacturing sector is underperforming while the composite PMI suggests resilience in the broader economy. Manufacturing came in at 51.9, below expectations of 52.0 and down from 52.5 prior, which could signal a slowdown in production and supply chain issues. However, the composite PMI at 54.8 indicates that services are still driving growth, suggesting that consumer spending remains strong. This divergence could lead to volatility in sectors tied to manufacturing, while service-oriented stocks might continue to thrive. Traders should keep an eye on the 52.0 level for manufacturing; a break below could trigger further bearish sentiment. On the flip side, the overall GDP growth projection of 2.5% for Q4 is a positive sign, but it’s worth questioning how sustainable this growth is if manufacturing continues to lag. Watch for reactions from the Fed, as these numbers might influence their stance on interest rates. Keep an eye on the upcoming economic indicators for further clarity.
📮 Takeaway
Monitor the 52.0 level in manufacturing PMI; a drop below could signal further bearish trends, while service sector strength may keep overall growth buoyant.
