The Institute for Supply Management’s monthly Purchasing Managers Index is closely watched because the people who do the ordering in factories often have a pretty good sense of the mood of their bosses. A reading above 50 indicates expansion in the manufacturing sector, while a number below 50 means contraction. Today’s number was 52.7 for November, up from 50.8 in October. Better than expected.
The Institute for Supply Management’s monthly Purchasing Managers Index is closely watched because the people who do the ordering in factories often have a pretty good sense of the mood of their bosses. A reading above 50 indicates expansion in the manufacturing sector, while a number below 50 means contraction. Today’s number was 52.7 for November, up from 50.8 in October. Better than expected.
