November data starts out strong with a very positive ISM manufacturing index The first November data point, the ISM manufacturing index, was reported this morning, and while it declined from last month, it remained very strongly positive. The overall index declined from 59.3 to 57.5, and the more forward-looking new orders index declined from 67.9 to 65.1: Since any reading above 50, however, indicates expansion, these were positive readings. The overall index is at levels equivalent to where it was during the strongest parts of the last decade’s expansion, and this month, like 3 of the last 4 months, the new orders component is equal to its strongest levels of the past 16 years. Manufacturing has been very strong in the last half of this year,
Topics:
NewDealdemocrat considers the following as important: US EConomics, US/Global Economics
This could be interesting, too:
NewDealdemocrat writes Real GDP for Q3 nicely positive, but long leading components mediocre to negative for the second quarter in a row
Joel Eissenberg writes Healthcare and the 2024 presidential election
NewDealdemocrat writes JOLTS report for September shows continued deceleration in almost all metrics, now close to a cause for concern
NewDealdemocrat writes Repeat home sales accelerate slightly monthly, but continue to show YoY deceleration
November data starts out strong with a very positive ISM manufacturing index
The first November data point, the ISM manufacturing index, was reported this morning, and while it declined from last month, it remained very strongly positive.
The overall index declined from 59.3 to 57.5, and the more forward-looking new orders index declined from 67.9 to 65.1:
Since any reading above 50, however, indicates expansion, these were positive readings. The overall index is at levels equivalent to where it was during the strongest parts of the last decade’s expansion, and this month, like 3 of the last 4 months, the new orders component is equal to its strongest levels of the past 16 years.
Manufacturing has been very strong in the last half of this year, and as a short leading indicator, the ISM manufacturing index suggests that strength is going to continue in the first part of next year as well.
In general both the short and long leading indicators are very positive for 2021. I am putting together detailed posts to that effect which will be up at Seeking Alpha, and to which I will link here.