US Flash PMI Falls to 54.7 in November

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.

via Kitco

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza