US: Markit Manufacturing PMI rises to 56.7 (final) in November as expected

• Markit Manufacturing PMI in US improved to 56.7 in November.
• US Dollar Index stays in the negative territory below 91.70. 

The IHS Markit's Manufacturing PMI for the US rose to 56.7 (final) in November from 53.4 in October to show an ongoing expansion in the manufacturing sector's economic activity at a strengthening pace. This reading matched the flash estimate and analysts' expectation.

Commenting on the data, "the manufacturing recovery kicked up a gear in November with production growth accelerating to the highest for over six years," said Chris Williamson, Chief Business Economist at IHS Markit. "Confidence was boosted by encouraging vaccine news during the month, auguring well for life returning to normal at some point in the coming year, as well as hopes of increased stimulus spending and infrastructure investment following the election.”

Market reaction

The US Dollar Index showed no immediate reaction to this data and was last seen losing 0.25% on the day at 91.63.