Macro: ISM Mfg PMI

The ISM PMI came in unchanged in November at 46.7, the 13th consecutive month this series has indicated a contraction in manufacturing.

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The ISM PMI came in unchanged in November at 46.7, the 13th consecutive month this series has indicated a contraction in manufacturing.

On a positive note, though current production dropped, new orders rose.

Other data points of note:

  • Export orders dropped (6 of 18 industries reporting growth)
  • Backlogs dropped (no industry-reported growth in backlogs)
  • Prices are no longer going down (7 of 18 industries report paying higher prices for raw materials)
  • Employment dropped (3 of 18 industries reported an increase in employment)

More By This Author:

Macro: Incomes And Consumption Expenditures
Macro: Construction Spending
Macro: Chicago Business Barometer For November 2023

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