Manufacturing Growth Flat in November
Manufacturing activity declined to its lowest level in 42 months in November after 41 consecutive months of growth, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The economy overall grew for the 61st consecutive month.
In November, the Purchasing Managers Index fell to 49.5%. The last time the PMI registered below 50% was April 2003 (46.5 percent). New Orders and Production both ended growth cycles at 42 months during November. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting. On the positive side, growth in New Export Orders continued as the weaker dollar continues to fuel that ...