Market Data
December 2, 2024
ISM: Manufacturing sector contracted in November
Written by Brett Linton
US manufacturing activity contracted again in November for the eighth consecutive month, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report. The index has indicated a contracting manufacturing sector for 24 of the past 25 months.
Recovering almost two points from October, the November ISM Manufacturing PMI (Purchasing Managers Index) registered 48.4%, a five-month high. An index reading above 50% indicates the manufacturing economy is growing, while a reading below that indicates contraction. On a three-month moving average basis, the index has been weak for two years.
