United States PMI

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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.

FocusEconomics Consensus Forecast panelists expect that industrial output will increase 4.0% this year, which is up 0.1 percentage points from last month’s forecast. For 2015, panelists see industrial production accelerating to a 3.9% expansion, which is unchanged from last month’s forecast.

Author:, Economist

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United States PMI Chart

USA PMI November 2014

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.

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