Summary
- The US November Manufacturing Purchasing Managers' Index (PMI) exceeded expectations.
- S&P Global announced that the manufacturing purchasing managers' index was 49.7, surpassing the monthly expectation of 48.8.
- The PMI uses 50 as a baseline to indicate economic expansion or contraction, and this figure suggests economic contraction.
The US November Manufacturing Purchasing Managers' Index (PMI) exceeded expectations.
On the 2nd (local time), S&P Global announced that the manufacturing purchasing managers' index was 49.7, surpassing the monthly expectation of 48.8.
The Purchasing Managers' Index (PMI) uses 50 as a baseline to indicate economic expansion or contraction. A PMI above 50 indicates economic expansion, while below 50 suggests economic contraction.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
