- The ISM Manufacturing PMI remained at 46.7 in November.
- The Dollar Index pared its daily gains and fell to 103.50.
Economic activity in the US manufacturing sector contracted in November, for the twelfth consecutive month, with the ISM Manufacturing PMI at 46.7, unchanged from October. This reading was worse than market expectations, which placed it at 47.6.
Main data of the report:
The Manufacturing PMI registered 46.7% in November, unchanged from 46.7% in October. The economy as a whole continued to contract for the second consecutive month, after a month of weak expansion preceded by nine months of contraction and a previous period of 30 months of expansion.
The new orders index remained in contraction at 48.3%, 2.8% above the 45.5 percent figure recorded in October.
The production index reading of 48.5 percent is a decrease of 1.9 percentage points compared to October’s figure of 50.4 percent.
Prices: 49.9%, 4.8% more than in October (45.1%).
The order book index stood at 39.3%, 2.9 percentage points below the 42.2% recorded in October.
The employment rate recorded 45.8%, down 1% from the 46.8% reported in October.
Market reaction
The Dollar Index retreated modestly following the ISM report, falling towards the 103.50 area. However, the EUR/USD pair remained near daily lows at 1.0850.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
