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US manufacturing declines to 49.5% in Nov  Join our daily free Newsletter

MENAFN - 04/12/2012

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(MENAFN) The US Institute of Supply Management (ISM) stated that the purchasing managers index (PMI) shrank to 49.5 percent last month from 51.7 percent in October, reported Xinhua News.

The PMI, which gauges manufacturing activity, posted its lowest level in November since July 2009, raising concerns about the country's economic recovery.

The ISM said that the new orders index fell by 3.9 percentage points in November from a month before, reaching 50.3 percent, a sign of slower growth in new orders.

Since the recession ended in June 2009, manufacturing has been a bright spot in production and employment; however, in recent months, the sector started to show signs of weakness.

It is worth noting that of the US' 18 manufacturing industries, just 6 posted expansion in November, including petroleum and coal products, and electrical equipment, whereas 11 industries posted contraction, including primary metals, wood products and machinery.

 






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