ISM report shows U.S. manufacturing activity grew in November

Nathan Andrada – Fourth Estate Cooperative Contributor

Tempe, AZ, United States (4E) – Manufacturing activity in the U.S. picked up in November, according to Institute for Supply Management (ISM) data released Monday.

The ISM index jumped to 57.3, the highest level since April of 2011, from 56.4 in October, according to the Tempe, Arizona-based group’s report.

The median forecast of economists surveyed by Bloomberg News called was for a 55.1 level. Readings above 50 means expansion.

The ISM report said the positive growth trend in the second half of the year is continuing with 15 of 18 manufacturing industries posting growth in November on month.

Also on Monday, data provider Markit reported its own final U.S. purchasing managers index (PMI) for November, showing a gain to 54.7 from a year-low of 51.8 in the previous month. Like that in the ISM, a reading of 50 in the Markit report indicates growth.

The ISM new orders index climbed to 63.6 in November from 60.6 in October. The exports index continued its rise in November, hitting 59.5 following a rise to 57.0 in October from 52.0 level in September.

The production index increased to 62.8 from 60.8 in October, and the index for employment climbed to 56.5 from 53.2 in October. The ISM inventory index eased to 50.5 from 52.5, while the index for prices paid dropped to 52.5 from 55.5.

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