Economic activity in the US manufacturing sector contracted in November, and the overall economy grew for the 127th consecutive month, according to the latest Manufacturing ISM Report On Business.
The November PMI registered 48.1 percent, a decrease of 0.2 percentage point from the October reading of 48.3 percent.
The New Orders Index registered 47.2 percent, a decrease of 1.9 percentage points from the October reading of 49.1 percent.
The Production Index registered 49.1 percent, up 2.9 percentage points compared to the October reading of 46.2 percent.
The Backlog of Orders Index registered 43 percent, down 1.1 percentage points compared to the October reading of 44.1 percent.
The Employment Index registered 46.6 percent, a 1.1-percentage point decrease from the October reading of 47.7 percent.
The Supplier Deliveries Index registered 52 percent, a 2.5-percentage point increase from the October reading of 49.5 percent.
The Inventories Index registered 45.5 percent, a decrease of 3.4 percentage points from the October reading of 48.9 percent.
The Prices Index registered 46.7 percent, a 1.2-percentage point increase from the October reading of 45.5 percent.
The New Export Orders Index registered 47.9 percent, a 2.5-percentage point decrease from the October reading of 50.4 percent.
The Imports Index registered 48.3 percent, a 3-percentage point increase from the October reading of 45.3 percent.
Of the 18 manufacturing industries, five reported growth in November: apparel, leather and allied products; food, beverage and tobacco products; paper products; miscellaneous manufacturing; and computer and electronic products.
The 13 industries reporting contraction in November — listed in order — are: wood products; printing and related support activities; furniture and related products; textile mills; fabricated metal products; transportation equipment; primary metals; plastics and rubber products; petroleum and coal products; nonmetallic mineral products; machinery; chemical products; and electrical equipment, appliances and components.