The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) was 49.4 in November, dipping 0.6 points from October. Manufacturers reported a slowdown in new orders, which caused a reduction in output and lower employment.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global
