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ISM manufacturing index contracts for first time in 36 months

December 01, 2015

The US manufacturing sector contracted for the first time in 36 months in November, according to the Institute for Supply Management’s purchasing managers index for US manufacturing. The index fell to a reading of 48.6 in November, down from October’s reading of 50.1.

Readings above 50.0 indicate expansion.

Reuters reports the reading fell more than the 50.5 pace expected by its poll of 77 economists and marks its lowest level since June 2009.

However, the employment portion of the index rose to a reading of 51.3 in November from 47.6 in October, reflecting growing employment levels from October. The reading reached its highest reading since July and exceeded expectations of a reading of 48.4, according to Reuters.