12/5: MetroIntelligence Economic Update by P. DUFFY

November private sector job growth fell sharply, mostly due to loss in manufacturing sector

ADP:  Private sector employment fell sharply to 67,000 new jobs in November, due mostly to a decline of 18,000 jobs in the manufacturing sector.  This overall growth rate compares with 121,000 in October and 136,000 in November 2018.

https://www.adpemploymentreport.com/2019/November/NER/docs/ADP-NATIONAL-EMPLOYMENT-REPORT-November2019-Final-Press-Release.pdf

 

November manufacturing sector index slips 0.2 points to 48.1

ISM’s Manufacturing Index PMI registered 48.1 percent in November, a decrease of 0.2 percentage point from the October reading of 48.3 percent (anything below 50 is a contraction). November was the fourth consecutive month of PMI® contraction, at a faster rate compared to the prior month. Global trade remains the most significant cross-industry issue.

https://www.instituteforsupplymanagement.org/ismreport/mfgrob.cfm?SSO=1

 

November service sector index declines 0.8 points to 53.9

The NMI® registered 53.9 percent, which is 0.8 percentage points lower than the October reading of 54.7 percent, but still in growth mode. The respondents hope for a resolution on tariffs and continue to be hampered by constraints in labor resources.

https://www.instituteforsupplymanagement.org/ISMReport/NonMfgROB.cfm?SSO=1

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