Posted December 1, 2020

Manufacturing growth slowed in November

Manufacturing grew in November, as the Institute for Supply Management Index registered 57.5 percent, 1.8 percentage points lower than the October reading of 59.3 percent.

"This figure indicates expansion in the overall economy for the seventh month in a row after a contraction in April, which ended a period of 131 consecutive months of growth," said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee.

The New Orders Index registered 65.1 percent, down 2.8 percentage points from the October reading of 67.9 percent. The Production Index registered 60.8 percent, a decrease of 2.2 percentage points compared to the October reading of 63 percent. The Backlog of Orders Index registered 56.9 percent, 1.2 percentage points higher compared to the October reading of 55.7 percent.

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