November sees strongest growth of CA manufacturing sector since early 2023

Economic activity in the manufacturing sector contracted in November for the eighth consecutive month and the 24th time in the last 25 months, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®. The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: "The Manufacturing PMI® registered 48.4 percent in November, 1.9 percentage points higher compared to the 46.5 percent recorded in October. The overall economy continued in expansion for the 55th month after one month of contraction in April 2020. (A Manufacturing PMI® above 42.5 percent, over a period of time, generally indicates an expansion of the overall economy.) The New Orders Index returned to expansion, albeit weakly, after seven months of contraction, registering 50.4 percent, 3.3 percentage points higher than the 47.1 percent recorded in October. The November reading of the Production Index (46.8 percent) is 0.6 percentage point higher than October's figure of 46.2 percent. The Prices Index continued in expansion (or 'increasing') territory, registering 50.3 percent, down 4.5 percentage points compared to the reading of 54.8 percent in October. The Backlog of Orders Index registered 41.8 percent, down 0.5 percentage point compared to the 42.3 per post: US ISM Manufacturing Nov: 48.4 (est 47.6; prev 46.5) - Prices Paid: 50.3 (est 56.0; prev 54.8) - New Orders: 50.4 (prev 47.1) - Employment: 48.1 (prev 44.4)ISM: US manufacturing activity grows in November The manufacturing sector in the United States improved slightly while still contracting in November, according to a report from the Institute for Supply Management (ISM) published on Monday. The Purchasing Managers' Index (PMI) rose from 46.5 in October to 48.4. New orders improved by 3.3 points to 50.4 compared to October, while the production indicator added 0.6 point to 46.8. The price index slid by 4.5 points to 50.3, while the employment index grew by 3.7 points to 48.1. "Demand remains weak, as companies prepare plans for 2025 with the benefit of the election cycle ending. Production execution eased in November, consistent with demand sluggishness and weak backlogs. Suppliers continue to have capacity, with lead times improving but some product shortages reappearing," ISM Manufacturing Business Survey Committee Chair Timothy Fiore said.