Manufacturing activity in the United States shrank increased in November, the Institute for Supply Management (ISM) said in a report on Monday. The Purchasing Managers Index (PMI) stood at 48.1%, compared to 49.2% expected.
The new orders index stood at 47.2% during the observed month, dipping 0.2 percentage points compared with October’s figure. The employment index landed at 46.6%, sliding 1.1% from last month.
The inventories index declined 3.4% compared to October, standing at 45.5%. The production index was 49.1%, down 2.9 points month-on-month, while the prices index was the only one to register a rise of 1.2 points to 46.7%.
The report indicates 127th month of consecutive growth, Chair of the Institute for Supply Management Timothy R. Fiore said commenting on the report, noting however that the PMI “contracted for the fourth straight month, at faster levels compared to October.”
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