#2 - US ISM Manufacturing Drops

1st December - Shock Value 8.0 /10

What Happened: 

Why It Matters: 

What Happens Next:   

• Nov ISM Manufacturing Shocks Down 1.5pts to 48.6
• First sub-50 Result Since Nov 2012, Worst Result Since June 2009
• Topline: Orders Down 4pts to 48.9, but Export Orders Unchanged at 47.5
• Output Down 3.7pts to 49.2, and Orders Backlogs up 0.5pts to 43
• Employment up 3.7pts to 51.3, and Supplier Deliveries up 0.2pts to 50.6
• Only Five Out of 18 Sectors Report Growth, Led by Printing, Nonmetallic Mineral Products, Misc Manufacturing