The ISM Manufacturing Index decreased to 53.6 in November from the 55.7 level in October, which is less than the expected increase to 55, which is the 4th consecutive month of expansion in the manufacturing sector, as indicated by an index value above 50, following 18 months of contraction. While the manufacturing sector continues to grow at a slower rate, 12 of 18 industries reported growth: Apparel, Leather & Allied Products; Printing & Related Support Activities; Petroleum & Coal Products; Miscellaneous Manufacturing; Electrical Equipment, Appliances & Components; Transportation Equipment; Chemical Products; Computer & Electronic Products; Food, Beverage & Tobacco Products; Paper Products; Fabricated Metal Products; and Machinery. 5 industries reported contraction: Wood Products; Furniture & Related Products; Nonmetallic Mineral Products; Primary Metals; and Plastics & Rubber Products.
Other economic highlights today include: Pending Home Sales grew by 3.7% in October; Construction Spending decreased 0.4% in October.
Upcoming Releases
Fed’s Beige Book (12/02 at 2:00 PM EST)
Crude Inventories (12/02 at 10:30 AM EST)
Initial Claims (12/03 at 8:30 AM EST)
ISM Services Index (12/03 at 10:00 AM EST)
