Economic reports were positive this week for the most part, according to the Weekly Chemistry and Economic Trends report from the American Chemistry Council (ACC). While consumer confidence waned, construction spending and light vehicle sales showed good gains. U.S. factory orders were down for the third month in a row but unfilled orders expanded. U.S. manufacturing activity continued to rise but at a slower pace in November.
The services and other non-manufacturing industries featured strong gains. The Beige Book noted manufacturing continued to expand in November, according to the ACC. The employment report showed monthly job gains were higher than expected and the unemployment rate held steady. Global manufacturing production expanded at the slowest pace for 15 months in November.
