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US Industry Slashes Growth – Orders Attract | News

Friday, December 1st, 2017 | bitcoin updates

Washington (Reuters) – The US industry has slowed its pace of growth in November. The PMI dropped 0.5 to 58.2, slightly more than expected, according to the Institute for Supply Management (ISM) company survey released Friday. The barometer signals growth from 50 meters onwards. New orders increased more strongly than in the previous month, suggesting a sustained upward trend. As the boom picks up, the Federal Reserve is heading for the third interest rate hike this year: New York Fed Chairman William Dudley, the influential head of Fed New Jersey, told The Wall Street Journal that "there are reasonable grounds." "for monetary tightening in December. Most recently, the Fed raised its key interest rate to its current level of 1.0 to 1.25 percent in June.

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