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Composite Markit PMI for November 57.2 vs. 56.5 preliminary

The preliminary estimate is 56.5. The services index stands at 58.0 against 57.0 in the flash estimate

  • Markit Composite PMI 57.2 vs. 56.5 preliminary
  • Services index 58.0 vs 57.0 preliminary

Chris Williamson, Chief Economist at IHS Markit, says:

“Business activity in the United States continued to grow at a strong pace in November, adding to signs that the pace of economic growth is picking up in the fourth quarter following the Delta wave-induced slowdown in the third quarter. While growth does not match the surge seen earlier in the year the economy reopened, the fourth quarter expansion is expected to be well above the long-term trend of the economy to mark an end of solid year. supply shortages and, in some cases, labor supply problems. These constraints are also increasingly affecting service providers, as evidenced by the service sector reporting a near-record accumulation of unfinished orders in November, with companies often not having the capacity to meet demand. Cost pressures in the service sector also increased in November, generally linked to higher prices paid for inputs and personnel due to shortages, with the inflation rate slightly lower than the all-time high in May. “While business expectations for the coming year rose in November, the vast majority of survey data was collected before the Omicron variant was announced, casting a new shadow of uncertainty over business outlook and poses a downside risk to near-term growth prospects. “


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