Afternoon Coffee: ISM PMI Hits 6-Year Low, Construction Spending Rises Kaitlyn McAvoy - December 1, 2015 12:38 PM | Categories: Afternoon Coffee | Tags: General News The U.S. manufacturing sector contracted in November, reaching its lowest levels since June 2009. The Institute for Supply Management’s November PMI registered 48.6%, down from 50.1% in October. It is also the first time the index reached below 50 since November 2012. Construction spending in the U.S. during October reached its highest level in nearly 8 years, however. Spending in the sector hit more than $1.1 trillion, a 1% jump from September and an increase of 13% from October 2014. Businesses invested less in the third quarter, according to the latest data from the Commerce Department. U.S. business investment rose 2.2% in the three-month period, what The Wall Street Journal called the “one of the worse performances of the six-year-old economic expansion.” Auto sales are increasing, with forecasts for November overall sales topping 18 million. Incentives like zero percent financing and other end-of-the-year promotions helped U.S. auto sales increase last month. SIGN UP for the Spend Matters newsletter Dirty Rotten Spendrels Discuss this: Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email.