theoretically rallying on red book & PMI.
redbook better than prior.
PMI worse than prior, but slightly beat consensus.
Markit's manufacturing PMI finally slowed, slipping nearly 1-1/2 points to a two-year low of 52.6 in the November flash report. New orders showed similar slowing, held down by contraction in export orders. Production in this report, however, has been very strong and, back in October, accurately foreshadowed what turned out to be a jump for manufacturing in the industrial production report.
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