Investing.com - Manufacturing activity in the U.S. deteriorated unexpectedly in November, contracting for the first time in three months, industry data showed on Monday.
In a report, the Institute for Supply Management said its index of purchasing managers fell to 49.5 in November from a reading of 51.7 in October.
Analysts had expected the ISM index of purchasing managers to decline to 51.3 in November.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The report showed that the ISM index of manufacturing prices fell to 52.5 from 55.0 in October.
The New Orders Index registered 50.3, while the Employment Index declined to 48.4.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.46% to trade at 1.3048.
Meanwhile, U.S. equity markets turned mixed. The Dow Jones Industrial Average dipped 0.1%, the S&P 500 index gained 0.1%, while the Nasdaq Composite index advanced 0.35%.
In a report, the Institute for Supply Management said its index of purchasing managers fell to 49.5 in November from a reading of 51.7 in October.
Analysts had expected the ISM index of purchasing managers to decline to 51.3 in November.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The report showed that the ISM index of manufacturing prices fell to 52.5 from 55.0 in October.
The New Orders Index registered 50.3, while the Employment Index declined to 48.4.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.46% to trade at 1.3048.
Meanwhile, U.S. equity markets turned mixed. The Dow Jones Industrial Average dipped 0.1%, the S&P 500 index gained 0.1%, while the Nasdaq Composite index advanced 0.35%.