Official manufacturing PMI jumped to 50.2 in November, after 6 consecutive months beneath 50. New home orders (51.3) are the principle assist for progress, which is in distinction to new export orders which stay in contraction (48.8). We anticipated some enchancment in home new orders, however the knowledge has shocked us by coming sooner than our expectations. One of many main pushed of latest orders is that infrastructure funding has moved from the funding stage to the manufacturing stage. It will proceed to offer assist to new orders within the coming 12 months. This view can be supported by the rise in costs of metal and … (full story)