The United States manufacturing sector weakened further in November, according to new data released by the Institute for Supply Management (ISM) on Monday. The ISM Manufacturing Purchasing Managers’ Index (PMI) came in at 48.2falling short of market expectations of 48.6.

A reading below 50 indicates contraction in the manufacturing sector, marking yet another month of subdued industrial activity in the world’s largest economy.

The ISM noted that overall activity declined compared to October, reflecting continued pressure on new orders, production levels, and employment within the sector. More details from the full report are awaited.

This is a developing story. More to come…