The manufacturing sector expanded in November, and the overall economy grew for the 102nd consecutive month, according to supply executives in the latest Manufacturing ISM Report on Business. The November PMI was 58.2 percent, a decrease of 0.5 percentage points from the October reading.
The New Orders Index registered 64 percent, an increase of 0.6 percentage points from the October reading of 63.4 percent. The Production Index registered 63.9 percent, 2.9 percentage points higher than the October reading of 61 percent. The Employment Index registered 59.7 percent, a decrease of 0.1 percentage points from the October reading of 59.8 percent.
The Supplier Deliveries Index registered 56.5 percent, a 4.9 percentage point decrease from the October reading of 61.4 percent. The Inventories Index registered 47 percent, a decrease of 1 percentage point from the October reading of 48 percent. The Prices Index registered 65.5 percent in November, a 3 percentage point decrease from the October level of 68.5.
A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
Of the 18 manufacturing industries, 14 reported growth in November, in the following order: Paper Products; Machinery; Transportation Equipment; Computer & Electronic Products; Nonmetallic Mineral Products; Plastics & Rubber Products; Printing & Related Support Activities; Food, Beverage & Tobacco Products; Electrical Equipment, Appliances & Components; Chemical Products; Furniture & Related Products; Fabricated Metal Products; Miscellaneous Manufacturing; and Primary Metals. Two industries reported contraction during the period: Wood Products; and Petroleum & Coal Products.
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