Norbolsa | Business activity expanded in November at the fastest pace in over two and a half years when the preliminary PMI reading reached 55.3 (54.3 estimated against 54.1 previously) driven by expectations of a lower interest rate environment and “pro-business” policies from the Trump administration.
By sector, the momentum in services (57 versus 55 estimated against 55 previously) was surprising, with the new order readings expanding to levels of 54.9 (52.8 previously) and with the metric of prices that companies put on their goods and services falling to May 2020 lows (50.8 versus 52.1 previous). In contrast, the manufacturing reading remained at contractionary levels, albeit tentatively approaching crossover (48.8 versus 48.9 estimated against 48.5 previously).
