Economic activity in the US manufacturing sector contracted in November for the first time since May 2020 after 29 consecutive months of growth, according to the latest Manufacturing ISM Report On Business.
The November Manufacturing PMI registered 49 percent, 1.2 percentage points lower than the 50.2 percent recorded in October. Regarding the overall economy, this figure indicates expansion for the 30th month in a row after contraction in April and May 2020. The Manufacturing PMI figure is the lowest since May 2020, when it registered 43.5 percent. Index breakdown:
| Index | November level | October level |
| New Orders | 47.2 | 49.2 |
| Production | 51.5 | 52.3 |
| Prices | 43 | 46.6 |
| Backlog of Orders | 40 | 45.3 |
| Employment | 48.4 | 50 |
| Supplier Deliveries | 47.2 | 46.8 |
| Inventories | 50.9 | 52.5 |
| New Export Orders | 48.4 | 46.5 |
| Imports | 46.6 | 50.8 |
Six manufacturing industries reported growth in November, in the following order: apparel, leather and allied products; nonmetallic mineral products; primary metals; miscellaneous manufacturing; petroleum and coal products; and transportation equipment.
The 12 industries reporting contraction in November, in the following order, are: printing and related support activities; wood products; paper products; textile mills; fabricated metal products; furniture and related products; chemical products; plastics and rubber products; computer and electronic products; food, beverage and tobacco products; machinery; and electrical equipment, appliances and components.