PMI falls to lowest level since summer 2009: ISM

Dec 03, 2012 | 03:25 PM | Corinna Petry

Tags  Purchasing Managers Index, Institute for Supply Management, new orders, backlogs, inventories, employment, metal producers, metal fabricators Bradley J. Holcomb

CHICAGO — Declines in new orders, inventories and employment helped drive the November manufacturing purchasing managers index (PMI) down 2.2 percentage points compared with the previous month, according to the Institute for Supply Management (ISM).

"This month’s reading reflects the lowest level since July 2009," ISM manufacturing business survey committee chairman Bradley J. Holcomb said in a statement Monday.

The new orders index fell to 50.3 percent from 54.2 percent; the inventories index fell 5.0 points to 45.0 percent and the customers’ inventories index fell 6.5 points to 42.5 percent; and the employment index fell 3.7 points to 48.4 percent, the lowest reading since September 2009.....

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