US ISM manufacturing rises to 48.4, new orders jump, prices ease sharply – Action Forex

US ISM Manufacturing PMI rose to 48.4 in November, up from October’s 46.5 and exceeding expectations of 47.5. While still in contraction territory (below 50), the improvement reflects signs of stabilization in the manufacturing sector.

New orders led the gains, climbing from 47.1 to 50.4, signaling expansion after seven consecutive months in contraction. Production edged up from 46.2 to 46.8, and employment saw a notable rise from 44.4 to 48.1, though both remain below the neutral threshold. Prices, however, declined sharply from 54.8 to 50.3, indicating easing inflationary pressures within the sector.

ISM noted that the November reading aligns with a projected annualized GDP growth of 1.7%, suggesting moderate economic expansion despite ongoing headwinds in manufacturing.

Full US ISM Manufacturing release here.