Please note that survey responses were collected from the period of November 14-27, 2023.

The current conditions index not only remained in expansionary territory, but it also strengthened marginally, ticking up from 52.8 in the prior month to 53.1 in November. One-quarter of responding panel members reported “better” conditions in November compared to October’s environment. Although the share of responses noting “unchanged” conditions dropped, it still remained the majority experience. Some comments pointed to continued robustness, but the overall tenor of the commentary may be best summarized by one member’s note suggesting “Slowing in some segments, steady in others. Not growing heading into the end of the year.”