The closely watched Manufacturing PMI from the Institute for Supply Management (ISM) for November showed continued manufacturing contraction nationwide, despite some improvement. The PMI came in at 48.4, an improvement of 1.9 points from last month, but still indicative of contraction. “U.S. Manufacturing activity contracted again in November, but at a slower rate compared to last month. Demand continues to be weak but may be moderating,” according to ISM. The PMI has indicated manufacturing contraction for 24 of the last 25 months. See the full report here.
