Manufacturing activity in the US improved in November. Orders increased for the first time in eight months, and factory input prices dropped sharply. The American Institute for Supply Management (ISM) announced on Monday that the US manufacturing PMI rose to 48.4 last month and was 46.5 in October, the lowest level since July 2023. A PMI below 50 indicates a contraction in manufacturing, which accounts for 10.3% of the economy. Economists surveyed by Reuters had predicted the PMI would rise to 47.5. The rise in PMI is in line with similar increases in other confidence surveys, which have risen due to people that the incoming Trump administration will introduce more business-friendly policies.