S&P Global flash US manufacturing PMI slips to 51.9

Friday, November 21, 2025 at 09:45 UTC+01:00 (+0100), United States, N/A

News category : Macroeconomic Events

S&P Global’s flash estimate for the US manufacturing PMI showed activity softening in November, with a headline print of 51.9. New orders and output growth moderated, and firms reported stockpiles building up amid weaker demand. While the PMI remained above the 50 expansion threshold, the downward movement suggests manufacturing momentum is cooling relative to prior months. The report added to evidence that supply-side pressures are easing but demand remains fragile, prompting commodity price adjustments and downward revisions to industrial revenue expectations. Investors reassessed cyclical exposures and the data fed into broader conversations about growth, central-bank timing and corporate earnings visibility.

Overall market impact

Mild bearish market impact - strength score : 70/100

Detailed breakdown of market impact over instruments, sectors, and asset classes

To access impact scores per sectors and asset classes - you’ll need to subscribe to a membership

Impacted instruments :

US industrial equities

Manufacturing supply-chain names

Commodities (industrial metals)

US Treasury yields

USD FX

Discover Full Article Details and Insights with a Membership

To access the full article—along with in-depth analysis of how this event could impact the markets—you’ll need to subscribe to a membership. Our community of expert analysts will help you understand the implications clearly and provide relevant guidance to support your investment decisions.