According to final data from S&P Global, the composite Purchasing Managers' Index (PMI) in the usa for November was revised down from an initial value of 55.3 to 54.9, but still above October's 54.1.
The Zhito finance APP reported that according to final data from S&P Global, the composite Purchasing Managers' Index (PMI) in the usa for November was revised down from an initial value of 55.3 to 54.9, but still above October's 54.1. This level marks a new high in over two and a half years, indicating significant growth in economic activity. The final value of the service PMI was also revised down to 56.1, below the initial value of 57.0, but an improvement over October's 55.0, showing that the service sector continues to maintain growth momentum.
Chris Williamson, chief business economist at S&P Global Market Intelligence, stated: "The improvement in service output in November offset further shrinkage in manufacturing, pushing overall business activity growth to the fastest pace in two and a half years."
He noted that the easing of political uncertainty following the election, optimistic expectations for the new government's economic policies in 2025, and hopes for declining interest rates have all driven an increase in service demand.
Williamson added that as market prospects improve, companies' demand for services has significantly increased. This robust growth is mainly reflected in the financial services sector, while business and consumer services have also achieved steady growth.