The U.S. composite PMI in November reached its highest level in two and a half years, with expectations for the new government's corporate preferential policies.
November 23, 2024, 1:13 AM GMT+9
The preliminary value of the November US Purchasing Managers' Index (PMI) announced by S&P Global on the 22nd was 55.3, reaching the highest level in 31 months since April 2022. Expectations for interest rate cuts and corporate favoritism measures by the upcoming Trump administration provided tailwinds.
It was 54.1 in October. 50 marks the threshold between expansion and contraction.
Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated, "There are signs that economic growth is accelerating in the fourth quarter," and added, "Optimism has been boosted by expectations of interest rate cuts and the next administration's pro-business stance, leading to increases in production and orders in November."
Breakdown shows new orders rose from 52.8 in October to 54.9.
Input prices decreased from 58.2 to 56.7, sales prices also declined from 52.1 to 50.8, reaching the lowest level since May 2020, supporting the view that inflation is in a decelerating trend.
On the other hand, the employment rate remained almost unchanged at 49.0. While employment in the manufacturing sector recovered, there was a continued decrease in the service sector.
It was 54.1 in October. 50 marks the threshold between expansion and contraction.
Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated, "There are signs that economic growth is accelerating in the fourth quarter," and added, "Optimism has been boosted by expectations of interest rate cuts and the next administration's pro-business stance, leading to increases in production and orders in November."
Breakdown shows new orders rose from 52.8 in October to 54.9.
Input prices decreased from 58.2 to 56.7, sales prices also declined from 52.1 to 50.8, reaching the lowest level since May 2020, supporting the view that inflation is in a decelerating trend.
On the other hand, the employment rate remained almost unchanged at 49.0. While employment in the manufacturing sector recovered, there was a continued decrease in the service sector.
The manufacturing PMI increased from 48.5 to 48.8, in line with market expectations.
The services PMI rose from 55.0 to 57.0, reaching its highest level since March 2022. The market expectation was 55.2.
The services PMI rose from 55.0 to 57.0, reaching its highest level since March 2022. The market expectation was 55.2.
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