Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

U.S. manufacturing PMI falls to 10-month low in November

Published 11/20/2014, 09:49 AM
Updated 11/20/2014, 09:49 AM
U.S. manufacturing PMI falls unexpectedly in November

Investing.com - U.S. manufacturing activity in November expanded at the slowest rate in ten months, dampening optimism over the strength of the economy, preliminary data showed on Thursday.

In a report, market research group Markit said that its preliminary U.S. manufacturing purchasing managers’ index declined to a seasonally adjusted 54.7 this month from a final reading of 55.9 in October. Analysts had expected the index to ease up to 56.2 in November.

On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.

Weaker rates of output and new business growth were the main negative influences on the headline PMI figure in November.

Commenting on the report, Chris Williamson, Chief Economist at Markit said that “The manufacturing and service sector PMI data available so far point to GDP growth slowing to around 2.5% in the fourth quarter."

EUR/USD was trading at 1.2563 from around 1.2560 ahead of the release of the data, while GBP/USD was at 1.5730 from 1.5725 earlier.

Meanwhile, U.S. stock markets were lower after the open. The Dow 30 fell 0.35%, the S&P 500 dipped 0.25%, while the Nasdaq 100 lost 0.3%.

Elsewhere, in the commodities market, gold futures traded at $1,192.50 a troy ounce, compared to $1,192.70 ahead of the data, while crude oil traded at $74.95 a barrel from $75.00 earlier.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.