The ISM Manufacturing PMI in the United States contracted for the ninth consecutive month in November.

Golden Finance reported that U.S. manufacturing has been in contraction territory for the ninth consecutive month in November, facing dual pressures of declining orders and rising raw material costs amid ongoing import tariff drag. Data released by the Institute for Supply Management (ISM) on Monday showed that the manufacturing PMI fell to 48.2 in November from 48.7 in October. The index being below the neutral line of 50 indicates that the manufacturing sector is in contraction, which accounts for 10.1% of the U.S. economy. However, the index remains above 42.3—ISM noted that this level is consistent with overall economic expansion in the long term. The forward-looking new orders sub-index in the ISM survey dropped to 47.4 in November from 49.4 in October, with 9 of the past 10 months in contraction. Tariffs have raised prices on some goods, suppressing demand. Unfilled orders continue to contract, although exports have slightly improved. Weak demand means less pressure on the Supply Chain, and the supplier delivery index fell to 49.3 in November from 54.2 in October, below 50 indicating faster delivery times. Despite weak factory orders, manufacturers paid higher prices for raw materials last month, suggesting that inflation may remain elevated for some time.