US Manufacturing PMI Rises In November

According to a survey compiled by the Institute of Supply Management, released Wednesday, US Manufacturing PMI rose to 61.1 in November from 60.8 in October. That was slightly above the expected reading of 61.0 and above October’s reading at 60.8.

The employment index rose to 53.3 from 52.0, the new orders index rose to 61.5 from 59.8 and the prices paid index fell more than expected to 82.4 from 85.7, versus an expected decline to 85.5.

The US manufacturing sector remains in a demand-driven, supply chain-constrained environment, with some indications of slight labor and supplier delivery improvement. Manufacturing performed well for the 18th straight month, with demand and consumption registering month-over-month growth, in spite of continuing obstacles.

Meeting demand remains a challenge, due to hiring difficulties and a clear cycle of labor turnover at all tiers” he added. There wasn’t much reaction to the latest US PMI data, which contained promising signs of an easing of supply chain gridlock.