- The ISM Manufacturing Index for November came in at 50.8 versus estimates of 50.8 and a reading of 50.9 in October.
- ISM Prices Paid for November rose to 67.5 versus estimates of 65.5 and a reading of 63.0 in October.
BOTTOM LINE: Manufacturing in the US during November expanded slightly, Bloomberg reported. The Prices Paid component rose to 67.5 from 63 the prior month. The Inventory Index fell to 46.9 from 47.2 the prior month. The Employment component fell to 47.8 from 52 prior. The Export Orders component jumped to 58.5, the highest since May, from 57 in October. The New Orders component rose to 52.6 from 52.5 the prior month. I continue to believe manufacturing will help boost overall US growth as companies gain confidence in the sustainability of the current expansion and rebuild depleted inventories from booming exports.
No comments:
Post a Comment