ISM Manufacturing Index Down 0.3 Point to 56.6

In November, the Institute for Supply Management's Manufacturing Index fell back slightly, falling 0.3 point to 56.6. Even though the index declined somewhat, it is still the second highest value since May and is significantly above the expansionary threshold. Values over 50 signify manufacturing sector activity growth.

The index was pulled down primarily by the production component, which fell 7.7 points to 55.0. Looking forward, the new orders component also fell but by a lesser 2.3 points leaving it at 56.6 for the month. Employment remained solid at 57.5, only down 0.2 point from October. Over all, these past two months help to alleviate fears of a double dip recession that seemed to be more likely this past summer.

m/m % change	Oct	Sep	Aug	Jul	Jun	May
Total	0.7	0.7	-0.9	-2.6	0.1	-2.8
Private Residential	2.5	0.6	-6.2	-4.1	-1.6	-4.7
Private Non Res.	-0.7	0.2	0.4	-4.0	-1.6	-2.5
Public	0.4	1.2	2.1	-0.2	3.0	-1.4