Rising global demand sparked a pick-up in manufacturing activity across the world in November, according to polls of purchasing managers.
Activity in the US rose at its fastest pace since April 2011, continuing a run of strong Institute for Supply Management data, at the start of a crucial week of data ahead of the US Federal Reserve’s policy meeting on December 18.
The US manufacturing ISM rose to 57.3, from an already strong 56.4 in October, and important components did even better with the forward-looking new orders index up from 60.6 to 63.6. A reading of 50 divides expansion from contraction.
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