Manufacturing Sector Continues to Expand
By Metal Center News Staff
on Dec 1, 2021
The manufacturing PMI hit 61.1 percent in November, an increase of 0.3 percentage points from the prior month, the Institute for Supply Management reported in its latest Report on Business. The mark represents the 18th consecutive month of growth in the manufacturing sector.
Other key indices also showed growth. The New Orders Index was at 61.5 percent, up 1.7 percentage points; the Production Index also reached 61.5 percent, up 2.2 percentage points; and the Employment Index climbed 1.3 percentage points to 53.3 percent.
All of the six biggest manufacturing industries, including fabricated metal products, registered strong to moderate growth in November.
“The U.S. manufacturing sector remains in a demand-driven, supply chain-constrained environment, with some indications of slight labor and supplier delivery improvement,” said Timothy Fiore, chair of the ISM’s Manufacturing Business Survey Committee. “All segments of the manufacturing economy are impacted by record-long raw materials and capital equipment lead times, continued shortages of critical lowest-tier materials, high commodity prices and difficulties in transporting products.”