ISM U.S. PMI down 2.2 to 49.5 in November

The ISM PMI is weaker than Markit’s U.S. PMI. Trends in new orders, domestic and export, are particularly weaker in the ISM survey.

The PMI™ registered 49.5 percent, a decrease of 2.2 percentage points from October’s reading of 51.7 percent, indicating contraction in manufacturing for the fourth time in the last six months. This month’s
PMI™ reading reflects the lowest level since July 2009 when the PMI™ registered 49.2 percent.

The New Orders Index registered 50.3 percent, indicating growth in new
orders for the third consecutive month. The Production Index registered 53.7 percent, indicating growth in production for the second consecutive month. The Employment Index registered 48.4 percent, a decrease of 3.7 percentage points. The Prices Index registered 52.5 percent.

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Of the 18 manufacturing industries, six are reporting growth in November in the following order: Petroleum & Coal Products;
Paper Products; Furniture & Related Products; Electrical Equipment, Appliances & Components; Food, Beverage & Tobacco Products; and Computer & Electronic Products.

ISM’s New Orders Index registered 50.3 percent in November,
which is a decrease of 3.9 percentage points when compared to the October reading of 54.2 percent. The seven industries reporting growth in new orders in November — listed in order — are: Petroleum & Coal Products; Paper Products; Plastics & Rubber Products; Machinery; Computer & Electronic Products; Electrical Equipment, Appliances & Components; and Furniture & Related Products.

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ISM’s New Export Orders Index registered 47 percent in November, which is 1 percentage point lower than the 48 percent reported in October. This month’s reading represents the sixth month of contraction in the index since June 2009, when the index registered 49.5 percent.

The five industries reporting growth in new export orders in November are: Petroleum & Coal Products; Food, Beverage & Tobacco Products; Fabricated Metal Products; Paper Products; and Miscellaneous Manufacturing. The six industries reporting a decrease in new export orders during November — listed in order — are: Primary Metals; Transportation Equipment; Computer & Electronic Products; Machinery; Chemical Products; and Apparel, Leather & Allied Products.

ISM’s Backlog of Orders Index registered 41 percent in November, which is 0.5 percentage point lower than the 41.5 percent reported in October. This is the eighth consecutive month of contraction in order backlogs. Of the 86 percent of respondents who reported their backlog of orders, 14 percent reported greater backlogs, 32 percent reported smaller backlogs, and 54 percent reported no change from October.

The three industries reporting increased order backlogs in November are: Electrical Equipment, Appliances & Components; Machinery; and Paper Products. The 11 industries reporting decreases in order backlogs during November — listed in order — are: Apparel, Leather & Allied Products; Primary Metals; Wood Products; Miscellaneous Manufacturing; Chemical Products; Transportation Equipment; Fabricated Metal Products; Plastics & Rubber Products; Furniture & Related Products; Food, Beverage & Tobacco Products; and Computer & Electronic Products.

 
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