Key Insights
- ISM Manufacturing PMI remained unchanged in November.
- New Orders Index improved from 45.5 in October to 48.3 in November.
- U.S. Dollar Index moved away from session highs as traders reacted to the weaker-than-expected report.
On December 1, the Institute for Supply Management released ISM Manufacturing PMI report for November. The report indicated that ISM Manufacturing PMI remained unchanged at 46.7, compared to analyst consensus of 47.6. Numbers below 50 show contraction.
The report showed that economic activity in the manufacturing sector contracted for the 13th consecutive month.
New Orders Index increased from 45.5 in October to 48.3 in November, while Production Index declined from 50.4 to 48.5.
The Institute for Supply Management commented: “The U.S. manufacturing sector continued to contract at…
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