A subindex of prices paid fell to 60.7 from 71.6 in October, coming in well below estimates for a reading of 70. Gauges of new orders and employment rose.
Separate figures on Monday from financial data firm Markit showed the pace of growth in the factory sector slipped to a three-month low, though a gauge of new orders ticked higher. Markit’s U.S. manufacturing PMI fell to 55.3 from 55.7 in October, the lowest since August and down slightly from Markit’s preliminary reading for November.
Financial markets were little moved by the data as investors focused on signs of progress in trade negotiations between the United States and China.
Minutes from the Federal Reserve’s November meeting released on Thursday showed nearly all Fed officials had agreed another rate hike was warranted soon but also opened debate on whether to pause further increases. Policymakers flagged issues including signs of slowing in interest-rate sensitive sectors, along with global risks and other factors.
Data on Thursday showed U.S. consumer spending had risen by the most in seven months in October, but that underlying price pressures slowed.
Testimony from Fed Chair Jerome Powell to Congress’s Joint Economic Committee about the economic outlook scheduled for Wednesday has been postponed due to a national day of mourning following the death of former President George H.W. Bush. No new date for the testimony has been announced. Powell last week had said the central bank’s policy rate was now “just below” estimates of a level that neither brakes nor boosts a healthy U.S. economy.