November Institute for Supply Management’s PMI – Return to Stability?


The Institute for Supply Management’s PMI for November notched down a modest 0.3 points when compared to October’s index but remained in growth territory at 56.6. A reading above 50.0 indicates the sector is expanding, while a reading below 50.0 indicates it is contracting. Expectations called for a 56.5 reading; so the modest change from October and the lack of disparity between analyst expectations and actual results is a bit of a ‘relief” from the uncertainty and larger index swings that occurred from May through September per the summary below:

Month Actual PMI % Change From Prior Expected PMI Diff. From Expected
Nov-10 56.6 -0.53% 56.5 0.1
Oct-10 56.9 4.60% 54 2.9
Sep-10 54.4** -3.37% 54.8 – 55.1 -0.4 to -0.7
Aug-10 56.3 1.44% 52.9 3.4
Jul-10 55.5 -1.25% 54.2 1.3
Jun-10 56.2 -5.86% 59 0.2
May-10 59.7 -1.16% 59.4 0.3
**September PMI marks lowest index reading in 2010
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