02:45 PM BST, United States - PMI Data for November:
- S&P Global Services PMI: actual 55.0; forecast 54.6; previous 54.8;
- S&P Global Manufacturing PMI: actual 51.9; forecast 52.0; previous 52.5;
- S&P Global Composite PMI: actual 54.8; forecast 54.5; previous 54.6;
US flash PMI data showed a broadly solid picture: manufacturing eased to 51.9 (vs 52.0 expected, 52.5 prior), while the composite index held firm at 54.8 (54.6 prior). S&P Global’s Chris Williamson noted that the figures point to roughly 2.5% annualised GDP growth in Q4, supported by rising output across manufacturing and services and stronger business confidence. However, he warned that slower new orders and a record buildup of unsold inventories signal potential softness ahead for factories, while higher input and output prices — partly tied to tariffs — and cautious hiring remain concerns for inflation-focused policymakers.
Daily summary ๐ Precious metals and stock indices rebound as Treasury yields fall
Oil gains as U.S. crude inventories fall
U.S. indices attempt to rebound after recent losses
Hot inflation data from the US๐ฅ๐ PPI and retail sales are rising!