Manufacturing Index Eases Slightly in November

The ISM Manufacturing Index registered 58.2 points in November, down 0.5 percentage point from the previous month, according to the Institute for Supply Management. November’s reading indicates the fifteenth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, fourteen reported growth, while two reported contraction. Eight of the ten index components grew, while the inventories and customers’ inventories indexes both contracted.

The Employment Index declined 0.1 point to 59.7 in November, indicating expansion for the fourteenth consecutive month. Eleven industries reported expansion, while two reported a decrease in employment.

The New Orders Index increased 0.6 point to 64.0 in November, indicating growth for the fourteenth consecutive month. Fourteen industries reported expansion, while two reported a decrease in employment.

Export orders fell 0.5 point to 56.0, indicating growth for the twenty-first consecutive month. Eight industries reported growth while one of the eighteen reported a decrease in new export orders.

The inventories index registered 47 points, down 1.0 point from the previous month. Five industries reported higher inventories, while eleven reported a decrease.

Read the ISM release.

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About Stephen Newton

Stephen Newton is an economic research associate at ABA.