• ISM mfg moved to its lowest since May’20 in November (49.0, -1.2pts) although did at least hold up better than the slide in yesterday’s MNI Chicago PMI from 45.2 to 37.2.
  • New orders fell back to September levels (47.2, -2pts) and whilst new orders less inventories didn’t deteriorate further (in fact still off July lows), they continue to point to further downside in the headline manufacturing survey ahead.

ISM New Orders Less Inventories Continue To Point To Downside

Last updated at:Dec-01 15:22By: Chris Harrison
Oil Bullets+ 1
  • ISM mfg moved to its lowest since May’20 in November (49.0, -1.2pts) although did at least hold up better than the slide in yesterday’s MNI Chicago PMI from 45.2 to 37.2.
  • New orders fell back to September levels (47.2, -2pts) and whilst new orders less inventories didn’t deteriorate further (in fact still off July lows), they continue to point to further downside in the headline manufacturing survey ahead.

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