U.S. manufacturing activity expanded at slower pace in November, but the expansion remained healthy as companies reported increases in new orders and production activity.
The manufacturing index, also known as the purchasing managers index (PMI), registered 58.2 in November, down from October's reading of 58.7, the Institute for Supply Management (ISM) said in a report on Friday.
A reading above 50 indicates the sector is generally expanding, while a reading below that level indicates contraction.
The slower expansion pace for the manufacturing sector in November was due to the continued slow pace of supplier deliveries, said the ISM. The supplier deliveries index fell 4.9 points to 56.5, the report showed.
However, other sub-indexes pointed to healthy expansion for the manufacturing sector. The new orders index rose 0.6 point to 64 in the month, and the production index increased 2.9 points to 63.9, while the employment index edged down 0.1 point to 59.7.
Companies surveyed continued to hold optimistic view about their business conditions in view of the increases in orders and production activity, said the ISM. Enditem
The manufacturing index, also known as the purchasing managers index (PMI), registered 58.2 in November, down from October's reading of 58.7, the Institute for Supply Management (ISM) said in a report on Friday.
A reading above 50 indicates the sector is generally expanding, while a reading below that level indicates contraction.
The slower expansion pace for the manufacturing sector in November was due to the continued slow pace of supplier deliveries, said the ISM. The supplier deliveries index fell 4.9 points to 56.5, the report showed.
However, other sub-indexes pointed to healthy expansion for the manufacturing sector. The new orders index rose 0.6 point to 64 in the month, and the production index increased 2.9 points to 63.9, while the employment index edged down 0.1 point to 59.7.
Companies surveyed continued to hold optimistic view about their business conditions in view of the increases in orders and production activity, said the ISM. Enditem
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