(MENAFN) According to global data company S&P Global statement released on Friday, the US manufacturing Purchasing Managers’ Index (PMI) increased significantly last month owing to "faster increases in output and new orders, as domestic and foreign client demand ticked higher."
The seasonally adjusted S&P Global US Manufacturing PMI stood at 58.8 in the mentioned month, increasing from 57.3 in the preceding month, the company stated, mentioning that the rebound of the US manufacturing field was the most significant recorded since the previous month of September.
It emphasized, "although backlogs of work rose at a sharper pace – largely due to greater new sales – firms noted that fewer supply bottlenecks allowed production to expand at a faster rate."
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