Purchasing Managers' Index, November 2015
PMI rose to 54.9 in November – Production chugs along
- The PMI strengthened from 53.4 to 54.9 in November – an increase of 1.5 points. The growth rate in the industrial sector is steady, according to a three-month moving average, and the main index has stayed in the growth zone for 31 months. In November production provided the biggest positive contribution (+0.7 points) to the PMI, while inventories of purchased materials contributed negatively (-0.1 point).
- The sub-index for new orders rose by one point to 54.2 in November. The monthly reading was more or less in line with the average so far this year of 54.8. The indices for both the export market and the domestic market strengthened and remained above the 50 mark for the fifth consecutive month. Lately, domestic demand seems to have accelerated, while global demand has been stable.
- The sub-index for production rose to 59.3 in November and the index for planned production reached 64.9, which was 2.4 points higher than in October. Actual production has risen for nearly three years and the monthly reading was the highest since last summer. At the same time hiring needs continued to rise and the subindex for employment was 54.6 in November.
- The index for prices of suppliers’ commodity and intermediate goods rose from 42.4 in October to 44.5 in November. Although the price decline continued in November, it was less widespread.
PMI November 2015