11/23/2020, 3:46 PM (Source: TeleTrader)
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US private sector activity hits 68-month high in Nov.

The IHS Markit Flash United States Composite PMI Output Index, which takes both, the services and the manufacturing business activity into account, stood at 57.9 in November, rising by 1.6 index points in comparison to the previous month and reaching the highest reading since March 2015, according to a preliminary report published by IHS Markit on Monday.

In November, the Manufacturing PMI improved by 3.3 index points to reach 56.7, while the Services Business Activity Index reached 57.7, after increasing by 0.8 index points.

"Firms are scrambling for inputs and workers to meet the recent growth of demand, and to meet rising future workloads. Expectations about the year ahead have surged to the most optimistic for over six years, reflecting the combination of a post-election lift to confidence and encouraging news that vaccines may allow a return to more normal business conditions in the not too distant future," IHS Markit's Chief Business Economist Chris Williamson noted in the press release.

Breaking the News / MS