US manufacturing activity grows for 18th consecutive month in November

08 Dec '21

2 min read

Pic: Moreno Soppelsa | Dreamstime.com

Economic activity in the US manufacturing sector grew in November, with the overall economy achieving an 18th consecutive month of growth, the country’s supply executives said in the latest Manufacturing ISM Report on Business, released recently by the manufacturing business survey committee of Institute for Supply Management (ISM) in Tempe, Arizona.

"The November manufacturing PMI [purchasing managers index] registered 61.1 per cent, an increase of 0.3 percentage point from the October reading of 60.8 per cent. This figure indicates expansion in the overall economy for the 18th month in a row after a contraction in April 2020. The new orders index registered 61.5 per cent, up 1.7 percentage points compared to the October reading of 59.8 per cent,” the report said.

The production index registered 61.5 per cent, an increase of 2.2 percentage points compared to the October reading of 59.3 per cent. The prices index registered 82.4 per cent, down 3.3 percentage points compared to the October figure of 85.7 per cent. The backlog of orders index registered 61.9 per cent, 1.7 percentage points lower than the October reading of 63.6 per cent, it said.

The supplier deliveries Index registered 72.2 per cent, down 3.4 percentage points from the October figure of 75.6 per cent. The inventories index registered 56.8 per cent, 0.2 percentage point lower than the October reading of 57 per cent, a press release from the institute said.

Fibre2Fashion News Desk (DS)

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