Economic activity in the US manufacturing sector grew in November, with the overall economy achieving an 18th consecutive month of growth, according to the latest Manufacturing ISM Report On Business.
The November Manufacturing PMI registered 61.1 percent, an increase of 0.3 percentage point from the October reading of 60.8 percent. This figure indicates expansion in the overall economy for the 18th month in a row after a contraction in April 2020. Index breakdown:
Index | November level | October level |
New Orders | 61.5 | 59.8 |
Production | 61.5 | 59.3 |
Backlog of Orders | 61.9 | 63.6 |
Employment | 53.3 | 52 |
Supplier Deliveries | 72.2 | 75.6 |
Inventories | 56.8 | 57 |
Prices | 82.4 | 85.7 |
New Export Orders | 54 | 54.6 |
Imports | 52.6 | 49.1 |
The 13 manufacturing industries reporting growth in November, in the following order, are: apparel, leather and allied products; furniture and related products; electrical equipment, appliances and components; computer and electronic products; machinery; plastics and rubber products; paper products; food, beverage and tobacco products; miscellaneous manufacturing; chemical products; petroleum and coal products; fabricated metal products; and transportation equipment.
The two industries reporting a decrease in November compared to October are: printing and related support activities; and primary metals.