Economic activity in the US manufacturing sector expanded in November, and the overall economy grew for the 102nd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The November PMI registered 58.2 percent, a decrease of 0.5 percentage point from the October reading of 58.7 percent.
The New Orders Index registered 64 percent, an increase of 0.6 percentage point from the October reading of 63.4 percent.
The Production Index registered 63.9 percent, a 2.9 percentage point increase compared to the October reading of 61 percent.
The Employment Index registered 59.7 percent, a decrease of 0.1 percentage point from the October reading of 59.8 percent.
The Supplier Deliveries Index registered 56.5 percent, a 4.9 percentage point decrease from the October reading of 61.4 percent.
The Inventories Index registered 47 percent, a decrease of 1 percentage point from the October reading of 48 percent.
The Prices Index registered 65.5 percent in November, a 3-percentage-point decrease from the October level of 68.5, indicating higher raw materials prices for the 21st consecutive month.
Of the 18 manufacturing industries, 14 reported growth in November, in the following order: paper products; machinery; transportation equipment; computer and electronic products; nonmetallic mineral products; plastics and rubber products; printing and related support activities; food, beverage and tobacco products; electrical equipment, appliances and components; chemical products; furniture and related products; fabricated metal products; miscellaneous manufacturing; and primary metals.
Two industries reported contraction during the period: wood products; and petroleum and coal products.