Investing.com – Manufacturing activity in the U.S. fell less-than-expected in November, industry data showed on Wednesday.
In a report, the Institute for Supply Management said its index of purchasing managers fell to 56.6 in November, after rising to 56.9 in October.
Analysts had expected the index of purchasing managers to fall to 56.4 in November.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The report also showed that the ISM index of manufacturing prices fell to 69.5 in November, after rising to 71.0 in October.
Analysts had expected the index of manufacturing prices to hold steady at a level of 71.0 in November.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 1.03% to hit 1.3115.
Meanwhile, U.S. equity markets posted sharp gains: the Dow Jones Industrial Average rallied 1.86%; the S&P 500 index jumped 1.75%, while the Nasdaq Composite index soared 2.24%.
In a report, the Institute for Supply Management said its index of purchasing managers fell to 56.6 in November, after rising to 56.9 in October.
Analysts had expected the index of purchasing managers to fall to 56.4 in November.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The report also showed that the ISM index of manufacturing prices fell to 69.5 in November, after rising to 71.0 in October.
Analysts had expected the index of manufacturing prices to hold steady at a level of 71.0 in November.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 1.03% to hit 1.3115.
Meanwhile, U.S. equity markets posted sharp gains: the Dow Jones Industrial Average rallied 1.86%; the S&P 500 index jumped 1.75%, while the Nasdaq Composite index soared 2.24%.