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U.S. manufacturing falls short of estimates in November

The ISM Manufacturing Index for November was 0.7% short of estimates.

Video Transcript

DAVE BRIGGS: All right, let's get you up to speed now on US manufacturing data. Activity contracted last month, falling for the first time in over two years, according to the Institute for Supply Management. Manufacturing PMI, meanwhile, falling to 49, the first contraction, the weakest reading since May 2020. You hear a lot about that date. Why? Because, of course, the early days of COVID. A scary sign. Higher interest rates, no doubt, impacting the sector with still another 50-point hike lightly at the December meeting in just about 10 days. Seana.