Posted 12/5/2023, 2:47:56 PM
U.S. Economic Expansion Continues at More Moderate Pace Amid Growing Headwinds
- U.S. PMI Composite was unchanged in November at 50.7, indicating modest expansion
- Manufacturing new orders contracted again, but service sector returned to growth
- Services PMI was also steady at 50.8, pointing to weaker growth than earlier 2022
- Forward-looking indicators suggest service sector growth likely to slow further
- PMI data shows economic expansion continuing but at a slower pace amid headwinds