US PMIs Show ‘Soaring’ Prices, ‘Vastly’ Higher Wage Bills

US PMIs Show ‘Soaring’ Prices, ‘Vastly’ Higher Wage Bills

US economic activity remained robust in November, but growth was impaired by a shortage of labor and ongoing supply chain delays. That's according to the flash read on IHS Markit's PMIs for this month. The services gauge missed estimates, printing 57, while the manufacturing index came in at 59.1, in line with consensus (figure below). The accompanying color reiterated familiar concerns and underscored the extent to which "transitory" is most assuredly not the right adjective to describe my
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