ISM Manufacturing falls in November

The U.S. manufacturing sector contracted in November, Manufacturing PMI® registered 46.7%, unchanged from the 46.7% recorded in October. Regarding the overall economy, this figure indicates that the economy continued in contraction for a second month after one month of weak expansion, preceded by nine months of contraction and a 30-month period of expansion before that (a manufacturing PMI® above 48.7%, over a period of time, generally indicates an expansion of the overall economy).

The Employment Index registered 45.8%, down 1 percentage point (pp) from October’s reading of 46.8%.

The New Orders Index remained in contraction territory at 48.3%, 2.8 pp higher than the figure of 45.5% recorded in October.

The New Export Orders Index reading of 46% is 3.4 pp lower than October’s figure of 49.4%.

The Inventories Index decreased 1.5 pp to 44.8%; the October reading was 43.4%.

Read the ISM release.