US business activity growth accelerated for a second successive month in November, according to early ‘flash’ PMI data, accompanied by the largest rise in new business seen so far this year. Confidence in the year ahead outlook also improved markedly, notably reflecting reduced worries over the political environment and hopes for increased policy support to business. The improvement was led by the service sector, accompanied by a robust rise in manufacturing output. However, the factory sector also reported a marked slowing in order book growth alongside an unprecedented buildup of unsold stock. The pace of job ... (full story)