受关税政策和联邦政府“停摆”等因素影响，11月美国制造业活动连续第9个月萎缩。制造业回流，哈哈。

The U.S. Manufacturing PMI (Purchasing Managers' Index) for November 2025, released by the Institute for Supply Management (ISM), was 48.2%, indicating contraction in the U.S. manufacturing sector for the ninth straight month, though at a slightly faster pace than October's 48.7%. Key details show a decline in New Orders (47.4%) and Employment (44%), while Production rebounded to 51.4% (expansion), and Prices remained elevated at 58.5%, showing increasing costs.