Manufacturing Activity Expands in November
Economic activity in the manufacturing sector expanded in November for the 16th consecutive month, and the overall economy grew for the 19th consecutive month, according to the latest Manufacturing ISM Report On Business from the Institute for Supply Management, Phoenix, Ariz. November’s PMI registered 56.6 percent, down slightly from October's reading of 56.9 percent.
“The manufacturing sector grew during November, with both new orders and production continuing to expand. November's rate of growth is the second fastest in the last six months. Exports and imports continue to support expansion in the sector,” says Norbert J. Ore, chairman of ISM’s Manufacturing Business Survey Committee.
Of the 18 manufacturing industries, 10 reported growth in November, including fabricated metal products and primary metals.