The November ISM PMI Manufacturing Index rebounded by 1.3 points in November. A welcome development as we near year end.
The composite index rose from 51.9 in October to 53.2 in November, its third straight month of expansion. The manufacturing production index, up from 54.6 to 56.0 in November expanded at its fastest rate since July 2015.
According to Bradley Holcomb at ISM,“The November PMI® registered 53.2 percent, an increase of 1.3 percentage points from the October reading of 51.9 percent.”
We’ll take it!
Fabricated Metal Products, of which Precision Machining is a sub sector, was one of 11 industries that grew in November. according to ISM data.
Both ISM’s Production Index and New Orders Index also reported gains in November.
PMPA’s Business Trends Index was down 1.7 % in October, so we are looking forward to our own rebound in November… after all, our components are what makes the manufactured goods sold in November actually work…
Link to ISM PMI November Report
Link to Calculated Risk Graph
Rebound: Showing some love to our Chicago Readers… Jordan Rebound 1995-1996 Finals