United States: ISM index remains strong in November despite moderation
December 1, 2014
In November, the ISM manufacturing index inched down from the 59.0% recorded in October to 58.7%. However, the result beat market expectations of a fall to 57.8%. Moreover, the index is only a notch below November’s multi-year high and remains comfortably above the 50.0% threshold that indicates expansion in the manufacturing sector.
The index was sustained by strength in the new orders and supplier deliveries categories, which reached three- and-nine month highs, respectively. Inventories, employment and production slowed modestly in November, but remained in expansionary territory.
Author: Carl Kelly, Economist