US Markit manufacturing PMI for November final 58.3 versus 59.1 estimate

Final Markit PMI for November 2021

Markit manufacturing PMI
Final Markit PMI 58.3 versus 59.1 estimate (and 59.1 flash estimate)last month the index came in at 58.4
PMI drops to 11-month low (lowest since December 2020) amid softer demand conditions
and material shortages
producers reported near record supply delays and a slowing of new order inflows to the softest so far this year
job growth slowed amid difficulties filling vacancies
Longer lead times, supplier shortages and higher energy prices
meanwhile pushed the rate of cost inflation to a fresh series high.
Although firms still sought to pass on greater costs to clients, the
pace of increase in prices charged slowed to the softest in three
months amid signs of push-back to higher prices from customers

Chris Williamson, Chief Business Economist at IHS Markit

“Broad swathes of US manufacturing remain hamstrung
by supply chain bottlenecks and difficulties filling staff
vacancies. Although November brought some signs
of supply chain problems easing slightly to the lowest
recorded for six months, widespread shortages of inputs
meant production growth was again severely constrained
to the extent that the survey is so far consistent with
manufacturing acting as a drag on the economy during
the fourth quarter. While demand remains firm, November brought signs of
new orders growth cooling to the lowest so far this year,
linked to shortages limiting scope to boost sales and signs
of push-back from customers as prices continued to rise
sharply during the month.
“While average selling price inflation eased as firms
sought to win customers, the rate of input cost inflation hit
a new high, hinting at a squeeze on margins.”For the full report CLICK HERE
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