New Report Shows U.S. Manufacturing Slips in November

According to the latest Market Watch article, U.S. manufacturing activity reached a 25-month low in November. storage cabinet

The flash manufacturing purchasing managers index (PMI) from Markit dropped to 52.6 from 54.1 in October - with all five of the PMI elements deteriorating, reports the article.

The month’s rise in input buying marked the lowest reading since January 2014 as stocks of finished goods fell for the fourth consecutive month.

Despite the fall, the index remains in growth territory as any reading above 50 indicates improving conditions.

Experts surveyed by the Wall Street Journal anticipated the index to hold steady at 54.0, reports a recent Business Spectator article discussing the November reading. 

Survey respondents cited cyclical slowdown in demand patterns coupled with continuing weakness in export sales as contributors to this month’s drop, Markit reports. As a result of slower output and new business growth, manufacturers signaled greater caution with regards to purchasing activity and supplies, says the Business Spectator article.

Other PMI findings show that manufacturing payrolls spiked this month but at a slower pace. Manufacturers took a more heedful approach to hiring, with November showing one of the smallest employment monthly gains in five years, reports Markit.

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