Economic activity in the US manufacturing sector contracted in November for the 13th consecutive month following a 28-month period of growth, according to the latest Manufacturing ISM Report On Business.
The Manufacturing PMI registered 46.7 percent in November, unchanged from the 46.7 percent recorded in October. The overall economy continued in contraction for a second month after one month of weak expansion preceded by nine months of contraction and a 30-month period of expansion before that. Index breakdown:
Index | November level | October level |
New Orders | 48.3 | 45.5 |
Production | 48.5 | 50.4 |
Prices | 49.9 | 45.1 |
Backlog of Orders | 39.3 | 42.2 |
Employment | 45.8 | 46.8 |
Supplier Deliveries | 46.2 | 47.7 |
Inventories | 44.8 | 43.3 |
New Export Orders | 46 | 49.4 |
Imports | 46.2 | 47.9 |
The three manufacturing industries that reported growth in November are: food, beverage and tobacco products; nonmetallic mineral products; and transportation equipment.
The 14 industries reporting contraction in November—in the following order—are: paper products; printing and related support activities; electrical equipment, appliances and components; computer and electronic products; apparel, leather and allied products; textile mills; machinery; primary metals; furniture and related products; miscellaneous manufacturing; chemical products; fabricated metal products; wood products; and plastics and rubber products.