November flash manufacturing PMI at 5-month high (by Steve Goldstein)
WASHINGTON (MarketWatch) -- Markit said its preliminary flash manufacturing purchasing managers index, which is based on around 85% of usual monthly replies, rose to 52.4 in November from 51.0 in October to indicate a moderate manufacturing expansion overall. Output, new orders and employment each accelerated and stayed above the 50 level indicating growth. The input price index surged to 63.6 from 57.1. "This is an encouraging sign that the slowdown in the goods-producing sector may have bottomed-out," said Chris Williamson, chief economist at Markit.