EmailThe November ISM Manufacturing Index increased from 50.8 in October to 52.7. The Briefing.com consensus expected the ISM Index to increase to 51.0. While most of the regional manufacturing surveys showed little-to-no growth in November, the ISM Manufacturing Index mirrored the gains seen in the Chicago PMI report.
Production increased a healthy 6.5 points from 50.1 in October to 56.6. The new orders index increased from 52.4 in October to 56.7.
The gains in the November ISM Index, however, do not put the manufacturing sector out of the danger zone. Unfilled orders have contracted for the sixth consecutive month and the rate of contraction accelerated (to 45.0 from 47.5) in November. Without a large supply of order backlogs, production will remain reliant upon growth in new orders.
