Posted December 2, 2019

Manufacturing contracted in November

Manufacturing contracted in November, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

The PMI registered 48.1 percent, a decrease of 0.2 percentage point from the October reading of 48.3 percent.

“The PMI contracted for the fourth straight month, at faster levels compared to October. This marks eight straight months of softening or contraction in manufacturing. All but one (Supplier Deliveries) of the PMI subindexes registered at levels associated with contraction. For the third straight month, two of the six big industries expanded, and four contracted,” said Timothy R. Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee.

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

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