US Manufacturing PMI Shows Improvement in November

A recent report by S&P Global indicates that manufacturing activity in the United States experienced a slight uptick in November. The seasonally adjusted Manufacturing Purchasing Managers' Index (PMI) reached 49.7, a modest increase from the 48.5 recorded in October. Despite this improvement, the index remains in contraction territory.

New orders stabilized during the month, while production continued to decline. However, inflationary pressures showed signs of easing.

Chris Williamson, chief economist at S&P Global Market Intelligence, commented: "The mood among US manufacturers brightened in November, though any feel-good factor has yet to feed through to higher output on the factory floor. Optimism about the year ahead has improved to a level not beaten in two and a half years, buoyed by the lifting of uncertainty seen in the lead up to the election, as well as the prospect of stronger economic growth and greater protectionism against foreign competition under the new Trump administration in 2025."