Economic activity in the US manufacturing sector expanded in November, and the overall economy grew for the 115th consecutive month, according to a report today from the nation's supply executives in the latest Manufacturing ISM Report On Business.
The November PMI registered 59.3 percent, an increase of 1.6 percentage points from the October reading of 57.7 percent.
The New Orders Index registered 62.1 percent, an increase of 4.7 percentage points from the October reading of 57.4 percent.
The Production Index registered 60.6 percent, a 0.7 percentage-point increase compared to the October reading of 59.9 percent.
The Employment Index registered 58.4 percent, an increase of 1.6 percentage points from the October reading of 56.8 percent.
The Supplier Deliveries Index registered 62.5 percent, a 1.3-percentage point decrease from the October reading of 63.8 percent.
The Inventories Index registered 52.9 percent, an increase of 2.2 percentage points from the October reading of 50.7 percent.
The Prices Index registered 60.7 percent, a 10.9-percentage point decrease from the October reading of 71.6 percent, indicating higher raw materials prices for the 33rd consecutive month.
Of the 18 manufacturing industries, 13 reported growth in November, in the following order: computer and electronic products; plastics and rubber products; paper products; textile mills; electrical equipment, appliances and components; miscellaneous manufacturing; machinery; transportation equipment; chemical products; food, beverage and tobacco products; apparel, leather and allied products; furniture and related products; and petroleum and coal products.
The three industries reporting contraction in November are: printing and related support activities; nonmetallic mineral products; and primary metals.