Markit: U.S. manufacturing sector continues to grow
U.S. manufacturing growth continued to accelerate in November, with production volumes and new orders both increasing at the strongest rate since March 2015.
U.S. manufacturing Purchasing Managers’ Index (PMI) rose to 54.1 in November from 53.4 in October, IHS Markit data showed on Thursday.
The sharp increase in incoming new work in November was mainly driven by domestic sales. New orders from abroad increased only marginally due to competitive pressures and the strong dollar.
The stronger demand led to higher input buying and growing payroll numbers in the manufacturing sector. Cost inflation slowed from October’s two-year high.