The manufacturing sector expanded in November, according to supply executives in the latest Manufacturing ISM Report on Business. The November PMI was 58.7 percent, 0.3 percentage points lower than October's 59 percent.
The New Orders Index registered 66 percent, an increase of 0.2 percentage points from October. The Production Index registered 64.4 percent, 0.4 percentage points below October.
The Employment Index of 54.9 percent decreased 0.6 percent from October's 55.5 percent. Inventories of raw materials registered 51.5 percent, down 1 percentage point from the October reading of 52.5 percent.
A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
"Comments from the panel are upbeat about strong demand and new orders, with some expressing concerns about West Coast port slowdowns and the threat of a potential dock strike," said Bradley Holcomb, chairman of the Institute for Supply Management Manufacturing Business Survey committee.
Of the 18 manufacturing industries, 14 are reporting growth in November in the following order: Food, Beverage & Tobacco Products; Miscellaneous Manufacturing; Furniture & Related Products; Fabricated Metal Products; Textile Mills; Printing & Related Support Activities; Electrical Equipment, Appliances & Components; Paper Products; Plastics & Rubber Products; Machinery; Transportation Equipment; Nonmetallic Mineral Products; Petroleum & Coal Products; and Primary Metals.
The only industry reporting contraction in November isApparel, Leather & Allied Products.
For more information, visit www.ism.ws.
