U.S. manufacturing PMI contracts for eight straight months amid weak demand
WASHINGTON, Dec. 2 (Xinhua) -- Economic activity in the U.S. manufacturing sector contracted in November for the eighth month in a row, the Institute for Supply Management (ISM) said Monday.
The U.S. Manufacturing Purchasing Managers' Index (PMI) stood at 48.4 percent in November, up 1.9 percentage points from the 46.5 percent recorded in October. Any reading below 50 percent indicates the manufacturing sector i