United States: Manufacturing PMI jumps to highest level since June
December 1, 2011
In November, the ISM manufacturing index (PMI) rose 1.9 percentage points to 52.7%, which represents its highest level since June, and beating market expectations that had the index rising to 51.8%. With the current reading, the index has stayed above the 50% threshold, which indicates the manufacturing sector is expanding, for the 28th consecutive month. The rebound over the previous month was broad-based, with important advances in production, customers' inventories and new orders. Furthermore, according to the ISM, respondents are ?cautiously more optimistic about the next few months based on lower raw materials pricing and favorable levels of new orders", despite concerns about the global economic environment, government regulations and the European debt crisis.