U.S. manufacturing activity rose more than anticipated in November but construction spending was worse than expected, falling for the third straight month.
The ISM manufacturing PMI index hit 59.3 in November, better than the 57.8 expected by economists polled by Refinitiv. The result was up from October’s reading of 57.7.
The index measures national factory activity. A reading above 50 indicates growth in manufacturing, which accounts for about 12 percent of the U.S. economy.
via CNBC
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Alfonso Esparza
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.
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