Mubasher: US private sector activity grew faster in November, recording the highest level since four months, led by stronger expansion in manufacturing and services sectors.

US flash composite output index came in at 51.9 in November, compared to a final estimate of 50.9 in October, IHS Markit's purchasing managers’ index (PMI) data showed.

This marked the fastest growth pace recorded since last July, yet it was below the series trend and only marginal overall.

“Output of the combined manufacturing and service sectors rose in November at the fastest rate since July, spurred by improved inflows of new business,” IHS Markit’s chief business economist Chris Williamson said.

The headline IHS Markit flash US manufacturing PMI came in at 52.2 in November, edging up from the preceding month’s final estimate of 51.3.

This marked the highest level seen since seven months.

The flash services PMI edged up to 51.6, from 50.6 in the preceding month, the highest level seen since July, as client demand picked up.

However, the new business upturn was historically weak and well below the growth rates seen at the beginning of this year.

By 3:33 pm GMT, the US dollar index, a gauge of the greenback against six major rivals, went up by 0.13% to 98.1240.