Contradictory conclusions were reached by two different surveys of the manufacturing sector published today in the US.
In particular, the Institute for Supply Management (ISM) survey showed an increase in manufacturing activity in November, with the relevant index climbing to 61.1 in the previous month from 60.8 in October. Analysts’ average estimates in a Reuters poll put the index at 61.0 points.
On the other hand, the IHS Markit industry survey showed a slowdown in activity, with the relevant PMI falling to an 11-month low amid weaker demand and material shortages.
In particular, the manufacturing PMI fell to 58.3 points in November from 58.4 points in October, lower than the preliminary measure of 59.1 points, according to IHS Markit. This is the lowest measurement since December 2020
“Large areas of the manufacturing sector continue to be constrained by supply chain problems and difficulties in filling vacancies,” said Chris Williamson, chief economist at IHS Markit.
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Source From: Capital
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