Manufacturing Sector Growth Expanded in November

The ISM Manufacturing Index registered 59.3 points in November, up 1.6 percentage points from the previous month, according to the Institute for Supply Management. November’s reading indicates the twenty-seventh consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, thirteen reported growth, while three reported contraction. Nine of the ten index components grew, while the supplier deliveries index slowed.

The Employment Index increased 1.6 points to 58.4 in November, indicating expansion for the twenty-sixth consecutive month. Ten industries reported expansion, while four reported a decrease in employment.

The New Orders Index increased 4.7 points to 62.1 in November, indicating growth for the thirty-fifth consecutive month. Eleven industries reported expansion, while four reported a decrease in new orders.

Export orders was unchanged at 52.2, indicating growth for the thirty-third consecutive month. Eight industries reported growth while three reported a decrease in new export orders.

The Inventories Index registered 52.9 points, up 2.2 points from the previous month. Nine industries reported higher inventories, while five reported a decrease.

Read the ISM release.

About Jack McCabe

Jack McCabe is a research associate in the Economic Policy and Research group at the ABA.
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