The expectation for the ISM manufacturing index (PMI) is that the manufacturing sector increased its pace of expansion, with the headline index forecast to rise to 51.6-52.0 from Octobers 50.8. Any level above 50 implies expansion in the sector while a reading below signifies contraction. As we can see from the chart to the right, the manufacturing sector had been performing very well in the 1st quarter of this year but then activity was knocked back as a result of the March earthquake/tsunami that disrupted manufacturing supply lines, we had an oil shock from the war in Libya, the deterioration of business and ... (full story)