US businesses signalled a further marginal expansion in output during November, with the rate of growth in business activity in line with that seen in October. Although manufacturers and service providers registered another monthly rise in activity, paces of expansion were only slight overall. Total new orders returned to growth, thereby ending a three-month sequence of contraction. That said, demand conditions at manufacturers were unchanged on the month. Relatively subdued demand conditions and dwindling backlogs led firms to cut their workforce numbers for the first time since June 2020, as service providers ... (full story)