Today's ISM Manufacturing report for the month of November came in lower than expected (49.5 vs. 51.4), and it was the indicator's worst monthly reading since July 2009. While readings below 50 are indicative of economic contraction, the weak report may be due in part to some residual impact from Sandy.
Like the headline reading, the internals for today's report were weak. The table below lists the current readings of the ISM Manufacturing's ten subcomponents and compares them to their levels from last month and last year. Within this month's report, six out of the ten subcomponents were below 50 and all but three (Production, Supplier Deliveries, and Imports) declined from their October levels. Relative to last year, this month's report was even weaker as Prices Paid was the only subcomponent that showed an increase. With respect to jobs, this month's reading in the employment sub-component came in at 48.4, which was the lowest reading since July 2009. For charts of each subcomponent, please click here.
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