U.S. ISM manufacturing index falls slightly in November, but in line with solid manufacturing growth

The U.S. ISM manufacturing index dropped a bit in November, marking the second month in which the index has dropped from its September high of 60.8. The index fell to 58.2 in November. However, the current level reading is still in line with solid manufacturing activity, noted Barclays in a research report.

Throughout the subcomponents, production was up to 63.9, while new orders index rose to 64. New export orders dropped to 56, while employment index was widely unchanged at 59.7. The strong reading for the employment index is in line with the sustained manufacturing payrolls recorded by the BLS since August.

“The headline ISM manufacturing index and its subcomponents suggest continued strong sentiment and activity in the manufacturing sector after it emerged from the 2015-16 doldrums”, added Barclays.

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