Manufacturing expanded in November
Economic activity in the manufacturing sector expanded in November according to the latest Manufacturing ISM Report On Business.
The November PMI registered 53.2 percent, an increase of 1.3 percentage points from the October reading of 51.9 percent. The New Orders Index registered 53 percent, an increase of 0.9 percentage point from the October reading of 52.1 percent.
"Comments from the panel cite increasing demand, some tightness in the labor market and plans to reduce inventory by the end of the year," said Bradley J. Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee.