Economic Report: Economy still humming, but manufacturer optimism decelerates, flash PMI data show

Bloomberg News/Landov
An employee adjusts a titanium alloy aircraft engine fan disc before inspection at the Rolls-Royce North America Inc. Crosspointe facility in Prince George, Va.

The numbers: The flash IHS Markit U.S. manufacturing PMI dipped to 55.4 in November from 55.7 in October. That was a three-month low. Meanwhile, IHS Markit’s services PMI fell to 54.4 from 54.8, its lowest in two months.

What happened: American industry’s breakneck pace of growth is slowing, as growth in new orders declined, according to an early read on November purchasing manager activity. Order books expanded at the slowest pace since December, IHS Markit said Friday.

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