America’s industrial heartbeat remained faint in November as a measure of manufacturing contracted for a fourth straight month against a backdrop of weaker orders and subdued production.
The Institute for Supply Management data on Monday showed the factory purchasing managers’ index unexpectedly declined to 48.1, near the expansion’s low point, from 48.3. The median forecast in a Bloomberg survey of economists called for an improvement to 49.2. Readings below 50 indicate activity is shrinking.
