A reading of manufacturing sentiment fell in November to its lowest level in 25 months, according to data released Monday. The flash manufacturing purchasing managers index from Markit fell to a reading of 52.6 from 54.1 in October, with all five of the PMI components deteriorating. While over the 50 mark indicating improving conditions, this puts the PMI closer to the more downbeat assessment from the Institute for Supply Management. The flash estimate is typically based on approximately 85%-90% of total PMI survey responses each month.
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