Manufacturing PMI jumps to 11-month high of 54 in November on strong demand

The expansion in total new orders was supported by greater sales to international markets

Growth in manufacturing activity hit an 11-month high in November as new orders and output rose at a slower pace, according to purchasing managers’ index (PMI). 

The PMI in November continued its northward climb for the third month, going up to 54 from 53.1 in October. A reading above 50 shows expa­nsion in the sector. Overall, manufacturing conditions improved for the 16th consecutive month in November. 

The boost in output came from a surge in new orders, that rose at the second-fastest rate in over two years, slower only than that seen in December 2017, the PMI report said. Companies