Growth in activity in the United States manufacturing industry remained unchanged in November, a report from the Institute for Supply Management (ISM) published on Friday showed. ISM Manufacturing Purchasing Managers Index (PMI) stood at 46.7%, unchanged from October and still below the 50% threshold.
In the reported month, the New Orders Index rose to 48.3%, up from 45.5% registered in October. The Employment Index slipped 1 percentage point month on month, to 45.8%. The Production Index fell into the contraction territory, sliding from 50.4% recorded in October to 48.5% in November. The Prices Index, on the other hand, surged 4.8 percentage points, on a monthly basis, to 49.9%.
"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," it was written in the report.
