ISM Manufacturing PMI Declines in November

Economic activity in the manufacturing sector in the United States expanded during November, with the overall economy notching a seventh consecutive month of growth, according to Tuesday’s data by ISM.

The November Manufacturing Purchasing Managers’ Index (PMI) registered 57.5 percent, down 1.8% from the October reading of 59.3 percent.

This is the seventh consecutive month of expansion, after contraction in April, which ended a period of 131 consecutive months of growth.

The New Orders Index registered 65.1%, down by 2.8% from the October reading of 67.9%.

The Production Index registered 60.8 percent, decreasing by 2.2% compared to the October reading of 63%. The Backlog of Orders Index registered 56.9%, rising by 1.2% compared to the October reading of 55.7 percent.

Meanwhile, the Employment Index returned to contraction territory at 48.4%, losing 4.8 % from the October reading of 53.2%.