American Association of Supply Management (ISM) announced November manufacturing index fell to 49.5, lower than the previous month's 51.7 and fell below the prosperities watershed 50. The Bloomberg interviewer economists originally estimated median is 51.4.
This is the ISM manufacturing index downturn after a rising for two months in a row and also the lowest level since July 2009. Enterprise worried about the U.S. fiscal cliff looming and reduces capital expenditures, weakness in overseas orders, plus the end of October hurricane SANDRA spoiler, are the main cause caused the manufacturing sector slowdown.
The report shows in each of the sub-indices, November new orders index fell from previous month 54.2 to 50.3, the lowest of three months; the production index for the previous month's 52.4 climbed to 53.7; the export orders index dropped from 48 to 47; employment index from 52.1 fall to 48.4, the lowest since September 2009.
This is the ISM manufacturing index downturn after a rising for two months in a row and also the lowest level since July 2009. Enterprise worried about the U.S. fiscal cliff looming and reduces capital expenditures, weakness in overseas orders, plus the end of October hurricane SANDRA spoiler, are the main cause caused the manufacturing sector slowdown.
The report shows in each of the sub-indices, November new orders index fell from previous month 54.2 to 50.3, the lowest of three months; the production index for the previous month's 52.4 climbed to 53.7; the export orders index dropped from 48 to 47; employment index from 52.1 fall to 48.4, the lowest since September 2009.
