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Manufacturers expressed concerns about reducing inventory levels. Read more.. According to Reuters, U. S. manufacturing remained subdued and lost momentum in November, as hiring slowed, and layoffs increased after solid growth the previous quarter.
MARKET WRAPS Watch For: Manufacturing PMI Data for EU, U.K. Italy, France, Germany; 4th anniversary of Ursula von der Leyen taking over as EU chief; U.K. nationwide House Price Index; Italy... -December 01, 2023 at 12:16 am EST - MarketScreener
U.S. manufacturing remained subdued in November, with factory employment declining further as hiring slowed and layoffs increased, more evidence that the economy was losing momentum after robust growth last quarter. Most economists, however, do not expect a recession next year and believe the Federal Reserve will be able to engineer the hoped-for "soft landing." Speaking during an event at Spelman College in Atlanta on Friday, Federal Reserve Chair Jerome Powell said "we are getting what we wanted to get" out of the economy.
Don’t expect Federal Reserve Chair Jerome Powell to say anything to bolster the market’s rising expectations for interest-rate cuts as soon as next March,…
Powell is likely to “lean against against the notion that there are cuts imminent."