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Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
27 December 2024,02:33
Weekly Outlook
27 December 2024, 02:33
The latest U.S. ISM Manufacturing Purchasing Managers’ Index (PMI) for November 2024 was 48.4%, exceed market expectation of 47.7 and also up from 46.5% in October. This indicates a continued contraction in the manufacturing sector, though at a slower pace. The slight improvement in the PMI suggests a modest rebound in manufacturing activity. The return to expansion in new orders indicates a potential uptick in demand. However, the overall PMI remains below 50%, signaling that the sector is still contracting. Challenges such as weak production execution, sluggish demand, and product shortages persist. Given the recent trends, it’s anticipated that the December 2024 PMI will remain below 50%, indicating continued contraction in the manufacturing sector. However, the recent uptick in new orders and employment suggests that the pace of contraction may slow, and a return to expansion could occur in the near future.
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