What Is The November Manufacturing PMI Saying About The U.S. Economy?

Summary

ISM Manufacturing PMI is a respected leading indicator and it shows 18 consecutive months of expansion with a reading of 58.7 in November.
Of the 10 components of the PMI, there is a net drop in prices and inventories remained unchanged for the first time. 8 components reported growth of various degrees.
Overall PMI is telling us that although the US economy is growing strongly, its rate of growth is slowing. Investors should act with caution and not chase prices.

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