ISM Manufacturing Reports Another Month Of Expansion
The Manufacturing ISM Report on Business for November registered a PMI at 52.7, up 1.9 percentage points from the previous month. November makes the 28th consecutive month for expansion in the manufacturing sector. The overall economy is growing at a faster rate, with this positive trend on its 30th month in a row.
New orders were up 4.3 points, indicating faster growth along with production, which is up 6.5 points. Employment took a small hit in November but is still growing, albeit at a slower rate. Supplier deliveries are down 1.4 points to a reading slightly below 50 while inventories are contracting. Prices are decreasing slowly, the index reading up 4 points last month to an index of 45. Exports are growing while imports are contracting at a faster rate. Steel was reported down in price for November. Eight of the 18 manufacturing industries reported growth last month.
Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee, said, "Respondents cite continuing concerns about the general economic environment, government regulations and European financial conditions, but are cautiously more optimistic about the next few months based on lower raw materials pricing and favorable levels of new orders."
Source: Institute for Supply Management</p>