Trade Resources Economy US Manufacturing Sector Expanded in November for The Sixth Consecutive Month

US Manufacturing Sector Expanded in November for The Sixth Consecutive Month

The US manufacturing sector expanded in November for the sixth consecutive month, and the growth gained momentum from the previous month, a leading industry survey showed Monday.

The US Institute of Supply Management (ISM) said the manufacturing index, also known as the purchasing managers index ( PMI), edged up from 56.4 percent in October to 57.3 percent last month, the highest level since April 2011.

A reading above 50 percent indicates the sector is generally expanding, while a reading below the proportion indicates contraction.

The new orders index rose to 63.6 percent last month from 60.6 percent in October, while the production index increased by 2 percentage points to 62.8 percent in November. Of the 18 manufacturing industries, 15 reported growth last month, including food, beverage and tobacco products. Three industries such as apparel and machinery reported contraction, the ISM said.

The manufacturing sector has been a bright spot by output and employment since the recession ended in June 2009.

Source: http://news.chemnet.com/Chemical-News/detail-2202279.html
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US Manufacturing Sector Continues to Expand in November
Topics: Metallurgy