Manufacturing numbers show promising signs in latest report
Manufacturers showed renewed confidence in the industry’s trajectory in November, with companies hiring additional staff, according to S&P Global’s U.S. Manufacturing Purchasing Managers’ Index.
S&P Global’s PMI reading rose to 49.7 last month, buoyed by a slowing in new order decline, with manufacturers pointing to improved demand conditions following Donald Trump’s presidential win.
The Institute for Supply Management’s PMI registered slightly lower at 48.4%, though still 1.9 percentage points higher compared to October. ISM’s reading was also driven by improved demand, with new orders reaching 50.4%, the first time the index has hit growth mode since March.
A reading below 50.0% on a PMI index signals economic contraction.
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