U.S. manufacturing activity continues expansion in November, the latest sign of the healthy economy.
The manufacturing index, also known as the purchasing managers index (PMI), registered 53.2, an increase of 1.3 points from October's reading of 51.9, the Institute for Supply Management (ISM) said in a report on Thursday.
A reading above 50 indicates the sector is generally expanding, while a reading below that level indicates contraction.
The new orders index recovered 0.9 point from the previous month to 53; production index went up 1.4 points to 56; and employment index went down 0.6 point to 52.3. Of the 18 manufacturing industries, eleven were reporting growth in November, while six industries reported contraction.
Businesses surveyed reported rising demand, some tightness in the labor market and plans to reduce inventory by the end of year, said the ISM.
A recent survey released by the Federal Reserve showed that manufacturing activity across the country remained mixed in October and November.
Some cited strong U.S. dollar as a headwind, while some reported strong demand.
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