U.S. Manufacturing Softens a Bit, But Remains Strong, Says ISM

The Institute of Supply Management (ISM) reported today that manufacturing activity for the month of November remained in a good spot.

The PMI, the ISM’s index to measure growth, declined 0.3 percent to 58.7 in November (a PMI of 50 or greater represents growth), with the November PMI 3.1 percent above the 12-month average of 55.6. And it is 0.4 percent below its highest reading, going back to the 59.1 recorded in March 2011. ISM also noted that 14 of the 18 industries it collects data from reported growth in November.

Three of the report’s key metrics, including the PMI, declined from October to November, according to ISM.

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