November PMI manufacturing index shows steepest improvement in six years, November ISM Manufacturing Index comes in shy of estimates

 

• November U.S. PMI Manufacturing Index 56.7 vs. 56.7 consensus, 53.4 prior.
• Overall growth was supported by faster upturns in output and new orders amid stronger domestic and foreign client demand.

 

• November ISM Manufacturing Index: 57.5 vs. 57.7 consensus, 59.3 prior.
• Overall economy registers a seventh straight month of growth, according to the U.S.'s supply executives.
• New Orders Index 65.1 vs. 67.9 in October.
• Production Index of 60.8 falls from 63 prior.
• Backlog of Orders Index 56.9 vs. 55.7 prior.
• Employment Index 48.4 vs. 53.2 prior.
• Supplier Deliveries Index 61.7 vs. 60.5.
• Prices Index 65.4 vs. 65.5 prior.
• "Companies and suppliers continue to operate in reconfigured factories, but absenteeism, short-term shutdowns to sanitize facilities and difficulties in returning and hiring workers are causing strains that will likely limit future manufacturing growth potential," said Timothy R. Fiore, chair of the Institute for Supply Management.
• Panel sentiment, however, is optimistic and improved from October.