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Economic activity in the manufacturing sector expanded in November, with the U.S. economy achieving its 18th straight monthly growth.
Source: ISM
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ISM manufacturing index jumped to 61.1% in November from 60.8% in October. The figure signals an expansion of the overall U.S. economy.
The New Orders Index posted an increase of 1.7% to reach 61.5% in November compared to the October reading of 59.8%. The Production Index posted 61.5%, an increase of 2.2% from 59.3% in October.
Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management, stated that the U.S. manufacturing sector persists in a demand-driven, supply chain-constraint environment, with signals of slight labor and supplier delivery growth.
Fiore further stated that all segments of the manufacturing economy were affected by record-long raw materials and capital equipment lead times.
In November, the Prices Index grew for the 18th straight month at a slower pace, signaling continued supplier pricing power and scarcity of supply chain goods.
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