Summary
- Reported that the U.S. November ISM manufacturing PMI recorded 48.2, falling short of both market expectations and the previous month's figure.
- Stated that a PMI reading below 50 is interpreted as a signal of economic contraction.
- Said the figure suggests weakness in the U.S. manufacturing sector.
The U.S. November ISM manufacturing purchasing managers' index (PMI) fell short of expectations.
According to the manufacturing PMI report released by the Institute for Supply Management (ISM) on the 1st (local time), the U.S. November manufacturing PMI was 48.2, below both the expected figure (49) and the previous month's figure (48.7).
The ISM conducts a monthly survey of 400 companies across 20 industry sectors to assess manufacturing conditions and calculate the PMI. A reading above 50 indicates more respondents expect expansion in activity, while a reading below 50 indicates more expect contraction.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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