12/1/2020, 3:47 PM (Source: TeleTrader)
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US manufacturing activity expands in November

Manufacturing sector activity in the United States improved in November compared to the previous month, an IHS Markit report showed on Tuesday.

The seasonally adjusted IHS Markit final US Manufacturing Purchasing Managers’ Index was reported at 56.7 in November, rising sharply from the 53.4 registered in October and matching the flash estimate. November's improvement in operating conditions is the sharpest since September 2014, the report noted.

"The manufacturing recovery kicked up a gear in November, with production growth accelerating to the highest for over six years. Most encouraging was the breakdown of the rise in new orders which underpinned the expansion," chief business economist at IHS Markit Chris Williamson said. He added that confidence was also boosted by "encouraging vaccine news" made public in November.

Breaking the News / JC