US ISM Manufacturing Index rose slightly from 60.8 to 61.1 in November, above expectation of 61.0. Looking at some details, new orders rose from 59.8 to 61.5. Production rose from 59.3 to 61.5. Employment rose from 52.0 to 53.3. Supplier deliveries dropped from 75.6 to 72.2. Prices dropped from 85.7 to 82.4.
ISM said: “The past relationship between the Manufacturing PMI and the overall economy indicates that the Manufacturing PMI for November (61.1 percent) corresponds to a 5.1-percent increase in real gross domestic product (GDP) on an annualized basis”.
