The U.S. manufacturing sector continues to lose some momentum in November, according to the latest Purchasing Managers Index data.
Thursday, the private research firm Markit said its November flash estimate PMI fell to a level of 54.7, compared to October’s final reading of 55.9. According to consensus reports, economists were expecting to see a small rise to 56.2.
Ahead of the flash estimate, the New York Federal Reserve said Monday its Empire State manufacturing survey rose a reading of 10.2, up from October’s level of 6.2.
A reading above 50.0 signals an improvement in business conditions, while readings below 50.0 signal deterioration. Later Thursday morning the market will receive regional manufacturing data from the Philadelphia Federal Reserve.