GDP in November came up short of expectations, edging down slightly…

… on the back of a 0.3% decline in goods-producing industries, which more than offset the 0.1% increase in services GDP.

At the sector level, manufacturing and wholesale trade dragged down the print - driven by automotive supply chain bottlenecks…

… with semiconductor shortages causing a 6% drop in motor vehicle manufacturing…

… and a 13% drop in sector wholesaling activity.