U.S. ISM manufacturing index seems to have dropped slightly in November

The U.S. ISM manufacturing index is expected to have fallen slightly in the month of November. According to a Societe Generale research report, the ISM factory index is likely to have edged lower to 51.6 in November from October’s 51.9.

A certain amount of rebound was seen in the regional factory surveys that were released recently. For instance, the ISM-adjusted Richmond Fed index rose to 53.5 from 51.8, whereas the corresponding figure for the Philadelphia Fed rose four points to 55.5.

Meanwhile, the ISM-adjusted Empire State gauge rose slightly, although it continued to stay below the breakeven at 47.2. The ISM-adjusted Kansas City Fed measure was the only one to have dropped in the month, falling by three points to 50.3. However, the average reading throughout those measures remained at 51.6 in November. This implies a small dip in the national factory index, noted Societe Generale.

Furthermore, the new orders index of ISM survey had dropped three points to 52.1 in October, which might have resulted in a reduction in the production component in November.