America’s manufacturing sector showed signs of recovery in November, as new orders expanded for the first time in eight months and rising confidence spurred companies to add staff, according to data from the Institute for Supply Management (ISM) and S&P Global.
While both surveys indicated ongoing contraction in the sector, the slowdown was less severe than expected, driven by easing inflation and optimism over pro-business policies from the incoming Trump administration.
The ISM Manufacturing Purchasing Managers’ Index (PMI), released on Dec. 2, rose to 48.4 in November from 46.5 in October, marking the highest level in five months. Though still below the 50 threshold that separates contraction from expansion, it beat market expectations for a reading of 47.5, buoyed by a slight uptick in demand as input price growth slowed sharply….