Economic activity in the US manufacturing sector grew in November, with the overall economy notching a seventh consecutive month of growth, according to the latest Manufacturing ISM Report On Business.
The November Manufacturing PMI registered 57.5 percent, down 1.8 percentage points from the October reading of 59.3 percent. This figure indicates expansion in the overall economy for the seventh month in a row after a contraction in April, which ended a period of 131 consecutive months of growth.
Index breakdown:
Index | November level | October level |
New Orders | 65.1 | 67.9 |
Production | 60.8 | 63 |
Backlog of Orders | 56.9 | 55.7 |
Employment | 48.4 | 53.2 |
Supplier Deliveries | 61.7 | 60.5 |
Inventories | 51.2 | 51.9 |
Prices | 65.4 | 65.5 |
New Export Orders | 57.8 | 55.7 |
Imports | 55.1 | 58.1 |
Of the 18 manufacturing industries, 16 reported growth in November, in the following order: apparel, leather and allied products; nonmetallic mineral products; textile mills; wood products; electrical equipment, appliances and components; fabricated metal products; plastics and rubber products; primary metals; chemical products; machinery; computer and electronic products; paper products; miscellaneous manufacturing; transportation equipment; furniture and related products; and food, beverage and tobacco products.
The two industries reporting contraction in November are: printing and related support activities; and petroleum and coal products.