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Economic Data (USA)

Tuesday, December 01, 2015

ISM Manufacturing Index for November 2015

Earlier today, the Institute for Supply Management (ISM) released their Purchasing Manager's Index (PMI) for November 2015:

Predicted: 50.5%
Actual: 48.6%

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the factory sector contracted.

Last month, the PMI was 50.1%.

The following is a sampling of quotes from a diverse pool of U.S. manufacturers:

    "The oil and gas industry is realizing that [the] ‘low’ oil prices are now the new reality with expectations to continue at this level for some time."
(Petroleum and Coal Products)

    "Still seeing deflation in raw materials."
(Chemical Products)

    "Bookings and new orders are lower than expected."
(Computer and Electronic Products)

    "Automotive remains strong."
(Fabricated Metal Products)

    "Business is still good."
(Transportation Equipment)

    "Downturn in China and European markets are negatively affecting our business."

    "Strong dollar is slowing our sales to China as they can buy in Europe."
(Primary Metals)

    "Medical device continues to be strong."
(Miscellaneous Manufacturing)

    "Incoming orders have leveled off from the summer."
(Furniture and Related Products)

    "Month-over-month conditions are stable."
(Food, Beverage and Tobacco Products)

Click here to view the complete ISM report.

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