Economy
December 3, 2019
ISM Manufacturing PMI Contracts for Fourth Straight Month
Written by Sandy Williams
Manufacturing activity in the U.S. contracted at a faster rate in November, according to the latest Manufacturing ISM Report on Business. The PMI registered a 0.2 point decline for a reading of 48.1 percent and its fourth straight month in contraction.
Most of the components of the PMI remained in contraction last month. Production, at 49.1 percent gained 2.9 points from October. The backlog index fell another point to 43 percent. New orders dropped 1.9 points to 47.2 for its lowest level since April 2009.
