United States PMI

United States

Manufacturing increases in November marking 6th consecutive gain

In November, the ISM manufacturing index rose to 57.3%, marking an improvement over the 56.4% recorded in October. The increase defied market expectations of a fall to 55.1%. The index continues to build on the gains registered in the past six months and is currently at the highest point in more than two and a half years, reinforcing the view that the U.S. economy is recovering.

All five ISM indicators stayed above the 50.0% threshold that indicates expansion. Employment registered the largest gain, increasing from 53.2% in October to 56.5% in November. New orders and production also increased. In contrast, inventories and supplier deliveries fell compared to the previous month.

FocusEconomics Consensus Forecast panelists project that industrial output will increase 2.4% this year, which is unchanged from last month's forecast. For 2014, panelists see industrial production accelerating to a 3.5% expansion, which is also unchanged from last month's projection.

Author:, Economist

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United States PMI Chart

USA PMI November 2013

Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.
Source: Institute for Supply Management (ISM).

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