FX.co ★ US Manufacturing PMI at 4-Month Low: S&P Global

The S&P Global Flash US Manufacturing PMI decreased to 51.9 in November 2025, marking the lowest level in the past four months, down from 52.5 in October. This was slightly below the anticipated figure of 52. Despite the downturn, the PMI still reflects an enhancement in factory business conditions for the tenth occasion within the last eleven months. Although production growth experienced a minor decline, it remained robust by recent standards, and employment rose at its quickest pace since August. However, the growth in new orders softened compared to October's strong performance. Conversely, longer lead times contributed positively with greater significance. Meanwhile, input inventories showed minimal change.