US: Markit Manufacturing PMI falls to lowest level in 3 months at 55.4 vs 55.7 expected

"Manufacturing companies experienced further robust rises in output, new work and employment during November," the IHS Markit said. "Despite stronger growth of new orders and employment, the seasonally adjusted IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index eased from 55.7 in October to 55.4 in November, thereby signalling the weakest improvement in operating conditions for three months."

Key takeaways from the press release

• Weaker production growth and a slower rate of inventory accumulation contributed to the fall in the headline PMI during November.
• A number of firms noted that capacity constraints and stretched supply chains were the main headwinds to output growth at their plants. 
• Meanwhile, latest data pointed to another sharp rise in average cost burdens.
  • However, overall input price inflation eased slightly from October’s three-month high.